http://business.timesonline.co.uk/to...cle4844097.ece
B&B nationalised as Government takes on £40bn mortgage debt
.................
Banco Santander, the Spanish bank that owns Abbey National, has bought the £20 billion deposit business and the network of 200 branches.
.................
You see what they've done there?
UK gov takes all the non-performing debt, Spain takes all the fixed deposits and assets.
I'm no economist but......
Still, what's another 40 billion here or there......
IMF
B&B nationalised as Government takes on £40bn mortgage debt
.................
Banco Santander, the Spanish bank that owns Abbey National, has bought the £20 billion deposit business and the network of 200 branches.
.................
You see what they've done there?
UK gov takes all the non-performing debt, Spain takes all the fixed deposits and assets.
I'm no economist but......
Still, what's another 40 billion here or there......
IMF
Comment