UK funds unlikely to have helped in crisis

Alistair Darling, the UK chancellor of the exchequer, implied on Thursday that injecting funds into the money markets would have done little to lessen the impact of the subprime crisis in the UK.

When questioned by Philip Dunne, a member of the Treasury Committee, why the Bank did not make emergency liquidity injections like the European Central Bank and the Federal Reserve, Darling said: "In the US, banks have been taken over and vehicles folded. In Europe several lenders are in trouble."


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