Britain’s £500bn banking bail-out: The inside story of a dramatic week
By Louise Armitstead and Philip Aldrick, 19 Oct 2008
telegraph.co.uk/finance/fina … -week.html
Three weeks ago the Government was focusing on a the savings guarantee scheme along similar lines to that which the Irish government provided for its banks. Insiders say the Irish move, which was announced on Wednesday 1st October, and the suggestion that other European countries would follow suit, prompting a return by government to parochial protectionist policies, goaded Sands and Meddings into action.
The believed a more permanent solution was needed; one that dealt with the core problems of funding and liquidity.
