Nationalisation stalk the banking system
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How to explain another week of bail-outs, billion-dollar losses and brutal bank sell-offs? Last week, the Irish government announced the full nationalisation of Anglo Irish Bank, the country's third-largest lender. Early this week the British government unveiled a potpourri of measures to stimulate lending, including a guarantee scheme designed to protect banks against losses on bad assets and an increase in its stake in Royal Bank of Scotland (RBS) to 70%. Markets worry that Barclays may also need state support.
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