Will the UK banking sector ever recover?
The ongoing demise of the UK banking sector, with Royal Bank of Scotland, Lloyds bank, Northern Rock and Bradford & Bingley all in some way heavily dependent on the UK government, has cast a very dark cloud over the UK economy. As we mentioned in some of our other articles there is concern within the investment industry and indeed the Standard & Poor's credit rating agency is very downbeat on the UK banking system.
In due course it is highly likely that the UK banking sector will begin to move back up the league of banking systems in the world although it may take some time to reclaim its place at the top table. One of the major concerns in the short to medium term is the threat from overseas banking institutions who may be looking to acquire UK assets "on the cheap" in these most difficult of times. While this would offer increased financial backing for any UK operations taken over by overseas counterparts, it would take away the decision-making process from UK-based management.
Despite the fact the UK economy would appear to have turned the corner there is still much work to do with the damage done to the UK banking sector far more severe than many people could ever imagine.
Share this..
Related stories
Postal strike set for 22 October
Despite the fact that a number of localised strikes have been occurring on a regular basis over the last few months, the official union strike at Royal Mail is set to start on Thursday, 22 October. There will be a number of strikes between 22nd of October and the Christmas period which are ultimately designed to wreak the greatest havoc and cause maximum impact. However, the Royal Mail management...
Read MoreHas Gordon Brown angered his new friend Barak Obama?
As Barack Obama pushes ahead with his "protectionism bill" to defend the US economy against foreign traders and foreign companies, it would appear that Gordon Brown is at serious odds with this strategy. It is widely known that the two men have discussed the issue since Obama's induction into the White House although Gordon Brown's public statements place him at the opposite end of the spectrum wi...
Read MoreIs it fair to subsidise the energy industry?
After issuing a warning that UK consumers and businesses can expect to see energy costs increase because of the need to invest into a new breed of nuclear energy plants, the UK government has prompted the question - Is it fair to subsidise the energy sector?
The problem is, as we touched on in one of our earlier post, the vast majority of UK energy companies are owned by foreign par...
Is the IMF set to run to the rescue of the UK?
Despite repeated denials by the UK government the spectre of help from the IMF looms large on the horizon as the UK economy continues to head downwards. The IMF is currently heavily involved with regards to a rescue package for the Turkish government although talks have been suspended for 10 days to allow a period of reflection. There is intense speculation that unless we see a significant turnaro...
Read MoreUp to 50,000 council homes may be occupied by fraudsters
As the UK government gets set to invest a significant amount of money into council housing up and down the UK, a report by the audit commission suggests that a massive 50,000 council homes could well be occupied by fraudsters. The audit commission released a rough estimate calculating around £200 million of the £18.5 billion payout each year in housing and council tax benefits may well be fraudu...
Read More