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What does it mean now that Northern Rock is nationalised?

April 26, 2017Business Finance mean nationalised northern rock

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What does it mean now that Northern Rock is nationalised?

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Northern Rock is now owned by the government kind of in the same way that the railways were owned by the government until they were privatised. This is because a suitable buyer for the bank could not be found, and the government itself has had no choice but to take charge of the bank itself.