Lloyds bank and Royal Bank of Scotland want answers from the EU
Despite various hints and rumours in the press, there has been no definitive ruling regarding Lloyds bank and Royal Bank of Scotland in relation to state funding from the UK government. There have been suggestions in the press that each company will be asked to give up a substantial amount of customers and market share, but so far there has been no definitive proof and no definitive figures released into the public domain. So what next?
In a move which may well force the hand of the EU, Royal Bank of Scotland and Lloyds bank have taken control and are now demanding a ruling on the government's investment because ultimately they need to get on with building and growing their operations in the UK. This will be a test of the EU's power over the UK government, something which many UK voters had hoped would never materialise. However, unfortunately it seems that the EU regulatory bodies are now at the top of the regulatory tree, looking down on countries such as the UK.
We await confirmation of the rulings regarding Lloyds bank and Royal Bank of Scotland, the content of which would appear to have been leaked and may well attract legal objections in the short to medium term.
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