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From the comments on that blog, a link to major building society / bank Alliance & Leicester, which offers 12% on savings accounts with fixed monthly inputs.

Scrabbling for liquidity.

by afew (afew(a in a circle)eurotrib_dot_com) on Sun Sep 16th, 2007 at 09:28:34 AM EST
[ Parent ]
A&L is next in line after NR. We'll know for sure when we start seeing queues outside A&L's branches.

NR will possibly be bought out, but sooner or later there isn't going to be anyone left to do the buying.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Sun Sep 16th, 2007 at 09:36:15 AM EST
[ Parent ]
The 12% interest rate offered is indeed incredible. Best teaser rates in France are around 6% (with less than 2% spread between EUR and GBP...).

http://www.boursorama.com/infos/actualites/detail_actu_marches.phtml?news=4609278

A la Bourse de Londres, l'action Northern Rock s'est effondrée de 31,5% vendredi. Elle avait déjà perdu près de 50% depuis le début de l'année.

Parmi ses concurrents directs spécialistes du crédit immobilier, Alliance & Leicester a perdu 6,9%, Bradford & Bingley 7,7% et Paragon Group 16,8%. Tous les trois ont assuré n'avoir aucun besoin de financement immédiat.

Next in line?

by Laurent GUERBY on Sun Sep 16th, 2007 at 10:21:26 AM EST
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