The chief executive of RBS, Stephen Hester, says political meddling is damaging the bank."The process of politicisation of RBS is damaging... to our business and to taxpayers' interests" he said, pointing to the fall in the bank's share price. He was speaking after a meeting in which shareholders backed plans to enter a government insurance scheme. The asset protection scheme means the Treasury acts as an insurer against the bank's £282bn of bad debts. Under the terms of the support deal, the UK taxpayers' stake in RBS rises from 70% to 84% after the government invests an extra £25.5bn in the bank.
The chief executive of RBS, Stephen Hester, says political meddling is damaging the bank.
"The process of politicisation of RBS is damaging... to our business and to taxpayers' interests" he said, pointing to the fall in the bank's share price.
He was speaking after a meeting in which shareholders backed plans to enter a government insurance scheme.
The asset protection scheme means the Treasury acts as an insurer against the bank's £282bn of bad debts.
Under the terms of the support deal, the UK taxpayers' stake in RBS rises from 70% to 84% after the government invests an extra £25.5bn in the bank.
Mr Hester, the door is over there. keep to the Fen Causeway
