UK Working To Alleviate Banking System & Financial Markets, Says Darling
London: British finance minister Alistair Darling stated that British policymakers will take every step possible to calm down financial markets and the banking system.
Darling told that he was working personally with the Bank of England and the Financial Services Authority, and a further conference is planned soon in order to guarantee self-belief comes back after a run on the depositories at mortgage bank Northern Rock.
Darling told news persons, “We will continue to do everything we can to ensure the market returns to normal. I’m determined we will maintain a stable banking system.”
He mentioned that the BoE’s emergency insertion of over 4 billion pounds into money markets earlier on Tuesday was the accurate thing to do and stated there was no sign currently that any other banking institution was in problem.
