The Vickers Review, acceptable to both halves of the coaltion

The Vickers Review into the future of banking appears to have prevented a possible coalition row. The Tories and the Liberal Democrats have had different views on what to do about the banks, with the Lib Dems keener to break up the banks come what may and the Tories more worried about preserving the competitiveness of the City.
 
At the very start of the coalition there was a rather unseemly turf war between Cable and Osborne about who controlled policy on the banks, and many have expected a row to break out when he review reported. But, as we predicted on Coffee House back in February, the review has come up with a solution acceptable to both sides.
 
The ‘ring-fencing’ of the retail and investment branches of banks allows the Liberal Democrats to say that retail and investment banking have, effectively, been split as they have long demanded.