Alistair Darling has revealed his “most scary moment” of the financial crisis, which began a decade ago.
The former Labour chancellor of the exchequer said he received a shocking phone call from Royal Bank of Scotland in 2008, revealing a run on the bank.
He told the BBC: “I had to go to one of these meetings of European finance ministers, and I was asked to come out and take a call from the then chairman of RBS [Tom McKillop], who said the bank was haemorrhaging money.
“Remember this was not only the biggest in the world, it was about the same size as the entire UK economy.
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