King call to split up RBS
The governor of the Bank of England, Sir Mervyn King, says the Royal Bank of Scotland should be broken up. He says "nothing has been achieved" in the four years since the bank was rescued with £45 billion of taxpayer cash and hundreds of billions of pounds of state guarantees. Sir Mervyn (pictured) said the British government should use its 82 per cent stake to split RBS into a good bank and a bad bank.
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