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Osborne warns on bank break-up

George Osborne has warned the Parliamentary Commission on Banking Standards against recommending the separation of retail and investment banks.

The Chancellor this morning told MPs and peers there was a “consensus” in favour of ring-fencing proposals produced by the Vickers Commission and that considering full retail and investment bank separation would be problematic.

“I will say to this commission: I would be very wary of unpicking a consensus that has been arrived at … I don’t think this is the point to say ‘you know what, let’s go back to square one’,” he said.

Green Box: Osborne warns on bank break-upClick to open

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