Bloomberg the Company

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Tucker Had Told U.K. Bank Heads System May Crash, Telegraph Says

Don't Miss Out —
Follow us on:

Aug. 19 (Bloomberg) -- Bank of England Deputy Governor Paul Tucker told U.K. bank executives last year that the banking system could collapse by that Christmas, the Sunday Telegraph said, citing people familiar with the situation.

Tucker made the comments at an October meeting with the chief executives of Britain’s largest banks, the newspaper said, citing three people present at the meeting that it didn’t identify.

Officials at the central bank were concerned a collapse of the euro area would spark a financial crisis even greater than the collapse of Lehman Brothers Holdings Inc. in 2008, the newspaper said.

A Bank of England spokeswoman declined to comment.

-- Editor: Keith Campbell

To contact the reporter on this story: Svenja O’Donnell in London at

To contact the editor responsible for this story: Craig Stirling at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.