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Lloyds Bank looks to renegotiate bailout terms

As the government bask in the glory of their much praised UK bailout it appears that the risk of the deal unravelling has increased dramatically overnight. News has hit the wires that not only does Lloyds Bank want to continue to pay dividends while the government is a shareholder but it wants to renegotiate the terms of the whole bailout package and the payment terms for the £17 billion on offer.

Lloyds Bank has the government over a barrel, because of the deal to bailout HBOS, at a time when all parties need to work together. We saw the Chancellor reemphasise the government's positions stating that 'a deal is a deal and the banks knew the terms when they signed up' but this is not having any impact upon the banking industry.

The next few days will see the authorities look to find some common ground with Lloyds Banks while also aiming to retain the new found trust of the public. If this deal goes pear shaped then not only is the UK economic revival at risk but we could also see the career of Gordon Brown disappear down the drain at the same time!

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