Summary
Chancellor Alistair Darling yesterday pledged to protect the interests of both taxpayers and depositors in considering the future of Northern Rock. In a Commons statement, Mr Darling said any proposals for the future of the bank would have to be approved by the Government and could be vetoed by ministers.
He told MPs that the billions of pounds loaned by the Bank of England were secured against "high quality" assets held by Northern Rock.See the full content of this document
Extract
Darling Promises Taxpayers' Loan to Rock Will Be Repaid
"The Government has a clear duty to protect the public interest and we will do that," Mr Darling vowed.
But Shadow Chancellor George Osborne said the "fall-out from the first bank run in 140 years ge...See the full content of this document
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