2nd bailout for UK banks 'not on cards'
05-01-2009
The British government is talking to banks about stepping up loans to credit-starved companies, but a second bailout of banks is not on the cards at present, Prime Minister Gordon Brown said on Sunday. The government set aside up to 37 billion pounds to boost the capital of three major British banks. The banks were hard hit by the credit crunch, which is now sending the British economy spinning into recession. The BBC and The Times newspaper both reported that the government was considering a second bailout.
