Iain Martin on breaking up Britain's banks
Ed has promised to take apart the state-owned RBS and partly state-owned Lloyds, much to the dismay of Mark Carney, the current Governor of the Bank of England, who has rejected this idea on the basis that the banks should remain intact to generate competition.
According to Iain, such a move “blows up the Government’s timetable for selling chunks of the banks back into the private sector, and it is dynamite in terms of the Bank of England and the potential future of its governor.”
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