Bank of England
In view of the financial crisis that has been affecting the entire world, and especially the banking system, the British government is currently analyzing the possibility of partially nationalizing the Bank of England in order to invest capital into it.
The Prime Minister Gordon Brown has made several statements according to which the Government is analyzing the financial crisis with several objectives set: those of solving the problems of liquidities, regulation and capitalization.
Latest events on the financial market have led people to believe the Government might be planning to buy a large amount of bank shares in order to invest capital in the Bank of England.
The Ministry of Finance does not want to reveal whether the UK will guarantee 100% of the bank savings, as they are probably waiting for Germany’s reaction to this situation. Also they have explained that, along with the increase of almost £50.000 in the guarantee of the deposits, almost 98% of all the savings accounts are not at risk.
(2 votes, average: 5 out of 5)
Loading ...Posted under Business, Finance Markets, International
This post was written by Dana Ciucalau on October 7, 2008
Join and subscribe to our free daily digest
