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Are British Banks Sound As A Pound?

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Are British Banks Sound As A Pound?

Business

Are British Banks Sound As A Pound?

Are British Banks Sound As A Pound?

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The phrase "sound as a pound" traditionally has meant something is as reliable as the British currency. After all, the government stands behind its currency. But, a number of British banks have been at least partially nationalized by the government at a time when they are not inspiring much confidence. Philip Coggan of The Economist talks with Linda Wertheimer about the troubled state of the British banking system.