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ralphmalph

Cameron Picks First Fight With Europe

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http://blogs.channel4.com/snowblog/2010/06/02/britain-backs-the-us-on-stress-testing-european-banks/

Translate the diplomatic speak and it translates to your banks are bust and need sorting, UK sorted its banks out now it is your turn.

I would imagine that the negotiating stance is that they want the EU rules on the hedgies, private equity, Monsieur Barnier to be neutered and the the bank levy tax to go to HMRC and not the ECB.

This could turn into quite a bun fight because the last think that Germany and France want is all that toxic rubbish stuffed in their banks to be exposed.

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And how much toxic rubbish is still hanging around in British banks? In RBS's case it is still there, but insured by the taxpayer :lol:

Correct but at least the UK population know it is there.

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This is very interesting not least because the UK banks are exposed to hundreds of billions of pounds of European sovereign debt. Could our own banks withstand the stress if more and more countries go the way of Greece? People in glass houses and all that....

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Correct but at least the UK population know it is there.

Haha! UK is the global centre of bank corruption. Hilarious to hear our politicians "having a go" on this issue.

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Translate the diplomatic speak and it translates to your banks are bust and need sorting, UK sorted its banks out now it is your turn.

so he's biggin up gordon for sorting the banks then?

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so he's biggin up gordon for sorting the banks then?

I would imagine in the world of politics and in the interest of forming good relations with the Treasury and the BoE it will be spun as the BoE and the Treasury ganged up on Brown and gave him an ultimatum to act because Brown was a dithering wreck in lala land.

At the time there was an interesting article that reported that Lord Davies then then CEO of Standard Chartered Bank and his CFO were looking at the end of day/week friday figures for the bank lending markets crunched the numbers over the weekend and devised a plan of action. They turned up at the Treasury first thing monday morning and said "do you realise how serious this is?" Convinced the Treasury and things went from there.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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