Lloyds
Action over exposed lender is a positive step, not tip of an iceberg
Fri, 2011-05-20 12:59 — newsdeskThe world is already used to radical intervention by governments in the banking sector. This is the case of banks like Royal Bank of Scotland, Lloyds, Citicorp and many others.
That's the reason why it's no surprise that the Dubai Government is taking over Dubai Bank.
The move could also be seen as a bit of internal accounting by the emirate's authorities. It also lightens the financial burden for Emaar Properties, which held a 30 % stake.
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