Published Date:
20 March 2010
AT ITS peak the cost of underwriting Scotland's two major banks RBS and HBOS/Lloyds exceeded £470 billion – more than 13 times the annual Scottish Government budget – and more than three times the entire output of the Scottish economy.
This eye-watering sum was part of the international operation to prevent the global financial infrastructure from imploding, and these broader aims appear to have been achieved.
But what of Scotland's own interests such as the flow of credit to b...
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Last Updated:
19 March 2010 8:05 PM
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Source:
The Scotsman
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Location:
Edinburgh
