1 — Banking
1.1 — Government welcomes approval of Northern Rock restructure
HM Treasury has published a press release welcoming the European Commission's approval of the legal and capital restructure of Northern Rock. Under the restructure, the back book of mortgages will be managed separately to Northern Rock's other businesses. The government guarantees in relation to retail deposits with Northern Rock, announced in the autumn of 2007 remain in place.
View Government welcomes approval of Northern Rock restructure, October 28, 2009
1.2 — Getting credit flowing: a non-monetarist approach to quantitative easing
Adam Posen, a member of the Monetary Policy Committee of the Bank of England and Senior Fellow, Peterson Institute for International Economics, gave a speech to Cass Business School in London in which he outlined a non-monetarist approach to quantitative easing. While he was confident that quantitative easing would not cause high inflation, Dr Posen did admit that the
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