BANK of England Governor Mervyn King declared last night he had seen UK banking sector "vested interests rise up to defend their bonuses and profits", but pledged to resist these pressures and proceed with necessary reform.
Urging swift action to separate essential banking services and potentially risky trading activities, he declared that nuclear power stations were not built in densely-populated areas.
He also cited a need to shake up regulation and to work on "resolution mechanisms" to ensure badly-run banks can fail safely.
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