Better does not mean good: British banks are doing better than expected—but the taxpayer is not off the hook yet

Posted: March 3, 2017 in economy
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British banks are doing better, but the taxpayer is not off the hook yet

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Better does not mean good

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British banks

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France’s next revolution

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Better does not mean good

THE day after last June’s Brexit referendum, shares in British banks tanked. Most economists feared financial instability and recession, and few investors wanted to be associated with a sector that had been so badly damaged by the financial crisis (see chart). But eight months on the banks are doing better than expected. By recent standards, at least, their results have not been that bad. In 2016 Barclays avoided making a loss. And on February 22nd Lloyds, now almost exclusively a Britain-focused bank, posted its highest pre-tax profits for a decade. As in other countries, since the referendum banks’ share prices have outperformed the rest of the …

via Economic Crisis http://ift.tt/2lYmK5W

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