Economists deem UK Government's move a positive example

The move by the UK Government was made in order for banks to restructure their finances and to encourage interbank lending. Meanwhile, the Government is continuing to collaborate internationally to strengthen the global financial system, following the meeting of G20 and the International Monetary Fund (IMF) yesterday. The summit saw support for the UK's bailout plans while a 13-point draft action plan was drafted, which comprised proposals for intervention by the ECB and plans for eurozone governments to underwrite bank debt until the end of next year. Michael Baxter, economist at Defa...