Northern Rock close to bankruptcy

NORTHERN ROCK, the mortgage bank rescued by the Bank of England last week is still occupied by dozens of people, worried about their savings.

Desperate customers besieged branches across the country from the early mornings. The bank, which saw £1 billion taken out by worried savers on Friday and at least £500m removed yesterday, is prepared for a further flood of withdrawals when branches open tomorrow.

Yesterday the Government in London summoned investors to be calm and not to be worried, because NORTHERN ROCK was rescued at the very last moment by the Bank of England and granted the necessary funds
17 September 2007
<<prev next>>
 
Thank you for taking the time to visit our site!