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‘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.

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