UK banks are told to plan for eurozone break-up

Discussion in 'Wall St. News' started by ASusilovic, Dec 1, 2011.

  1. BRITAIN’S biggest banks were told last night to prepare for the break-up of the eurozone as six of the world’s central banks announced a co-ordinated move to avoid a new credit crunch.

    Hector Sants, head of the Financial Services Authority, told the UK’s largest lenders to draw up contingency plans should efforts to save the eurozone fail.

    The watchdog chief made the recommendation during private talks with senior executives from Royal Bank of Scotland, Barclays, HSBC, Lloyds Banking Group, Santander UK and Standard Chartered.