Downing Street Says » Project Merlin

» Monday, January 24, 2011

Project Merlin

Asked whether Project Merlin had stalled, the PMS replied that conversations were ongoing, but the Treasury were leading on those discussions.

Asked about the new pay structure for Barclays and whether it could be used at RBS if it was successful, the PMS said that it would not be appropriate for him to comment on an individual company’s pay policy. The FSA needed to ensure that banks were complying with the new rules on pay.

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