BoE boss in warning over RBS loss

Chancellor George Osborne must face up to taxpayer losses in Royal Bank of Scotland and accelerate plans to return the bank to the private sector, Bank of England Governor Sir Mervyn King has said.

The central Bank boss told MPs the Government had failed to take decisive action to overhaul RBS and needed to complete a radical restructure of the bank to create a healthy lender within a year.%VIRTUAL-SkimlinksPromo%