Finance, Forex and Investments

What is the Labour government doing to British commercial banks,what happened if the banking system collapsed?

The Bank of England is at odds with the Treasury over the future of commercial banks.The FSA wants bank to write living will. PM Brown wants banks to withhold their bonuses and use that money to lend it the citizens.

Public Comments

1. If the Banking system collapsed the first thing you would notice your Credit & Debit Cards stop working - supermarkets etc. would be accepting 'cash only' (no-one accepts cheques anyway)... All the on-line systems (such as 'hole in the wall' cash machines ) would go 'off-line' = within a few hours they would be empty anyway .. and with no-one to turn them on again or fill them up, the country would descend into chaos ..