Why we must say no to nationalisation

In the UK, nationalisation is increasingly being advocated by many experts as a solution to the banking crisis. Such a step would be a disaster for the UK and the City of London, argues Robert Pringle, the editor-in-chief of Central Banking journal.

At best, nationalisation would paralyse banks' decision-making. They would spend their time wondering what the political commissars wanted. In their supine state, they would lend to people with lobbying power (friends of the Confederation of

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