A preview for the Irish
Oh dear. The UK government’s ‘investment’ in Britain’s banks is not paying off very well at all.
Following Friday’s banking rout, the UK government was sitting on a £6.7bn paper loss after its RBS, HBOS and Lloyds recapitalisation, according to the FT’s Peter Thal Larsen. And there’s more to come given that Brown is working on the second stage of recapitalisation.
Something for Ireland to think about as it ploughs €10bn into its own banking industry…
Related links:
Gordon Brown saves world, now banks - FT Alphaville
Brown says UK working on ’second stage’ of bailout - Bloomberg
Ireland plans €10bn investment in banks - FT
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