Martin Vander Weyer Martin Vander Weyer

Is there an alternative to nationalising Northern Rock?

Tuesday’s announcement that the Treasury will guarantee lending from other banks to Northern Rock is last ditch bid to avoid having to nationalise the bank. But in truth, most of the best options were closed off by inaction back in September.

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Jim Lawley

Heads will roll after Spain’s flooding catastrophe

Spain’s King and Queen were pelted with mud yesterday when they visited Paiporta, epicentre of the flood disaster zone in the Valencia region. Over two hundred people have died in the flooding, dozens of them in Paiporta; more are thought to be trapped and, by this time, surely dead in underground garages and car parks.

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