X-Nico

2 unusual facts about Project Merlin


Project Merlin

The agreement covers aspects of banking activity, notably lending, pay and bonuses with the intention of promoting lending to businesses, particularly small businesses, curbing the size of bankers' bonuses and promoting transparency with regards to executive pay.

Ed Balls, the Shadow Chancellor, criticised the deal as "toothless" and suggested that it contained a "clear get-out clause which allows the banks to do whatever they wish to enhance the interests of their shareholders.".



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