Morning in brief: RBS chief Hester warns of long Europe crisis
Royal Bank of Scotland Group chief executive Stephen Hester has warned the European sovereign debt crisis could drag on for years before it is resolved.
In an interview with Bloomberg, Hester also warned the UK government from selling its stake in the bank, which he claimed was trading at a “very low” share price.
The Financial Times reports that eurozone members of the G20 have committed to driving down borrowing costs at the summit in Mexico, coming as Reuters wrote of spiralling short-term debt costs for stricken member Spain.
Elsewhere, US president Barack Obama has welcomed efforts by European governments to tackle the ongoing crisis, writes the BBC.
Regulators in the US are warning of ’risky’ London regulation, with the Financial Services Authority coming in for criticism, according to CNBC, which reports testimony by Gary Gensler, chairman of the Commodity Futures Trading Commission, at a congressional hearing.
Have you looked at investment trusts more since RDR?