UK Banks need help not revenge
As governments, regulators and heavyweights from the business arena continue to gang up against UK banks there is a feeling that revenge is on the cards and the banks will be the ones to suffer. However, while even the most loyal of bankers in the UK would agree that changes need to be made to the UK banking sector, we need to see remedies for the UK banking sector not revenge.
While the authorities continue to grab headlines regarding various regulatory issues, seen as taking away some of the power that the financial sector has gained over the years, surely a more structured approach involving the banking sector would work best. Even though the politicians and the regulators seem to have the upper hand at the moment there is no doubt that the massive financial conglomerates trading in London and their employees will not sit back and see their businesses ripped apart.
Let's not forget that these businesses have the ultimate ace hand over the UK government, in their ability to literally pack up and leave the UK. The government know this could happen, the regulators know this could happen and ultimately there will need to be a compromise reached in due course. However at this moment in time the government and the regulators are more than happy to grab the headlines before a significant backtrack to ensure the sector continues "as normal".
Share this..
Related stories
Is the Gordon Brown bounce over?
As bizarre as it may sound, the economic turmoil within the UK had appeared to be the best option for Gordon Brown to win the next general election. Since the slowdown began his rating with voters in the UK has increased substantially but recent signs suggest that the Gordon Brown "bounce" could well be coming to an end. A number of recent polls have shown support for the Conservative Party is inc...
Read MoreECB May Raise Interest Rates In The Short Term
While the Bank of England confirmed what the majority of observers had forecast, no change in the UK base rate, it seems that the ECB may have different plans. As the City was digesting the no change announcement by the Bank of England the ECB were talking about the increased threat of inflation and a possible rise in European interest rates over the short to medium term.
Even thou...
UK government announce £50 billion rescue package
It was probably the worst kept secret in the financial markets but today we have seen the announcement of a £50 billion rescue package for UK banks. But does it go far enough and will it see us through the crisis?
While the move today was announced in a blaze of glory it seems to many as though this is yet again only a half way house and not the final piece of the jigsaw for the U...
Consumer confidence hit by June hike
Consumers' optimism has been hit by widespread expectations of a further rise in interest rates this month, Nationwide says.The bank's monthly consumer confidence index has dropped four points from its 18-month high in May, which reflected a wider buoyant mood on the high street for both retailers and shoppers alike.Its overall index fell back to 95, as did the expectations index which is down to...
Read MoreCurrent account switches fell 10% in 2015
22/01/2015 The number of people switching bank accounts fell by 10% last year, despite high profile campaigns aimed at encouraging people to switch. Payment system operator Bacs published figures showing that 1.03 million people changed their current account provider last year, compared to 1.15 million in 2014. The Current Account Switching Service (CASS) was created in 2013 to help inc...
Read More