Darling says some way to go to resolve crisis - Reuters
Chancellor Alistair Darling said on Friday there was still a long way to go in resolving problems in the banking system but that agreement at Thursday's G20 summit had been a "significant step forward."
"I don't think anyone would argue that in every country in the world we've got to the bottom of the problems in the banking system," he told BBC radio.
"That's why, over the last few months I've been preoccupied with trying to resolve these problems, trying to isolate these bad assets, because unless you do that, you reduce the ability of banks to get credit flowing in our economy."
Darling also said unemployment was likely to rise in the coming months.
"I know that over the next few months it is likely that you will see unemployment rising. What I'm very clear about though, is that means we need to make sure we do more."
"In the present circumstances where we're seeing a severe downturn, particularly at the back end of last year and the beginning of this year, unfortunately, people have been and are losing their jobs.
The answer must be to make sure we do everything we can to intervene right from the start to get people into work."
(Reporting by Avril Ormsby)
Surely the answer is to prevent jobs being lost in the first place, instead of propping up the banks.
"Aerodynamically, the bumble bee shouldn't be able to fly, but the bumble bee doesn't know it so it goes on flying anyway." Mary Kay Ash
Angus
Angus Dei on all and sundry
NHS Behind the headlines
NHS-THE OTHER SIDE
Chancellor Alistair Darling said on Friday there was still a long way to go in resolving problems in the banking system but that agreement at Thursday's G20 summit had been a "significant step forward."
"I don't think anyone would argue that in every country in the world we've got to the bottom of the problems in the banking system," he told BBC radio.
"That's why, over the last few months I've been preoccupied with trying to resolve these problems, trying to isolate these bad assets, because unless you do that, you reduce the ability of banks to get credit flowing in our economy."
Darling also said unemployment was likely to rise in the coming months.
"I know that over the next few months it is likely that you will see unemployment rising. What I'm very clear about though, is that means we need to make sure we do more."
"In the present circumstances where we're seeing a severe downturn, particularly at the back end of last year and the beginning of this year, unfortunately, people have been and are losing their jobs.
The answer must be to make sure we do everything we can to intervene right from the start to get people into work."
(Reporting by Avril Ormsby)
Surely the answer is to prevent jobs being lost in the first place, instead of propping up the banks.
"Aerodynamically, the bumble bee shouldn't be able to fly, but the bumble bee doesn't know it so it goes on flying anyway." Mary Kay Ash
Angus
Angus Dei on all and sundry
NHS Behind the headlines
NHS-THE OTHER SIDE
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