UK 'faces more financial shocks'

UK 'faces more financial shocks'

Mr Darling decided the government
could not help to fund takeovers
The governor of the Bank of England,
Mervyn King, has warned that the
US sub-prime mortgages crisis
poses more risks for the
UK's financial system.
He also revealed that it was
Chancellor Alistair Darling
who decided not to support a
Northern Rock takeover bid.

Mr King told the BBC he had advised the chancellor that governments should not provide financial help to one company so that it could take over another.

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