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English defends SCF bailout

Tuesday 7th of September 2010

 

In a ministerial statement to Parliament he says during the period of the Deposit Guarantee Scheme, the Treasury and their advisors were in close contact with SCF and once it became apparent the firm was in difficulty, there were proposals either to acquire parts of the firm or to recapitalise.

"I instructed Treasury officials to work co-operatively with the firm on these o...

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