The Treasury Select Committee (TSC) has issued a stark warning to the Bank of England and Financial Services Authority that they would be held accountable should mistakes made now "aggravate" a second financial crisis.
In a letter to Sir Mervyn King, the Bank's Governor, and Hector Sants, the FSA's chief executive, TSC chairman Andrew Tyrie sought "reassurance" that they were on top of worsening conditions. MORE... David Cameron was given a vicious dressing down by French President, Nicholas Sarkozy, yesterday as tensions reached boiling point among European leaders arguing over how to save the euro. Sarkozy was reported to have told the British Prime Minister that he should "shut up" during a meeting of the European Union's 27 leaders. MORE...
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