Latest News

‘RBS said it would run out of money in early afternoon’, says Alistair Darling

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.

Risk Warning:

This article is for information purposes only.

Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Comment here

three × three =