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Can the UK banking sector be saved?

While the potential for the Royal Bank of Scotland to be nationalised continues to grow by the hour there are serious concerns that the UK banking sector is in a downward spiral which will prove difficult to stop. Last week we saw Barclays bank shares fall by over 40% and this week we have seen the Royal Bank of Scotland shares collapse after announcing substantial write-offs and a multibillion-pound loss would appear to be on the cards.

There are serious concerns that the hundreds of billions of pounds of taxpayer's money already used to support the system have effectively been wasted. The tens of billions of pounds poured into banking shares in an attempt to stabilise a sector would also appear to be on the verge of total collapse when you consider that Royal Bank of Scotland receive £32 billion of taxpayer's money only two months ago and is today valued at just £4.5 billion.

The recovery of the UK economy hinges directly on the recovery of the banking sector and despite the enormous sums of money the government is throwing at the system it would appear that very little headway has being made.

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