UK Government Opens Bank in Romania

Romanian branches of ABN Amro, the failing Dutch bank bought not so long ago by the Royal Bank of Scotland (RBS), are this week being rebranded in RBS colours; I would assume you have seen the huge banner ads around town or online at various Romanian news websites.

As of yesterday however, the largest shareholder in RBS is of course the UK taxpayer, who will pump over £20 billion into the bank over the next few weeks.

RBS made a loss in the first half of 2008 of £691 million.

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