Nortern Rock is about to turn away depositors.
The London Sunday Times:
Northern Rock is within days of being forced to stop taking savings from new customers after a rush of deposits into the nationalised bank.
British deposit insurance is limited to £35,000, but deposits of any size with Northern Rock are now literally as safe as with the Bank of England. The stop is needed to protect the poor shivering capitalist banks from the unfair competition.
Author: James Wimberley
James Wimberley (b. 1946, an Englishman raised in the Channel Islands. three adult children) is a former career international bureaucrat with the Council of Europe in Strasbourg. His main achievements there were the Lisbon Convention on recognition of qualifications and the Kosovo law on school education. He retired in 2006 to a little white house in Andalucia, His first wife Patricia Morris died in 2009 after a long illness. He remarried in 2011. to the former Brazilian TV actress Lu MendonÃ§a. The cat overlords are now three.
I suppose I've been invited to join real scholars on the list because my skills, acquired in a decade of technical assistance work in eastern Europe, include being able to ask faux-naÃ¯f questions like the exotic Persians and Chinese of eighteenth-century philosophical fiction. So I'm quite comfortable in the role of country-cousin blogger with a European perspective. The other specialised skill I learnt was making toasts with a moral in the course of drunken Caucasian banquets. I'm open to expenses-paid offers to retell Noah the great Armenian and Columbus, the orange, and university reform in Georgia.
James Wimberley's occasional publications on the web
View all posts by James Wimberley