Tucson CitizenTucson Citizen

British leaders oppose ex-bank CEO’s pension

British leaders oppose ex-bank CEO’s pension

LONDON – The deputy leader of Britain’s governing Labour Party says the government will try to stop a former banking boss from receiving an annual pension of 693,000 pounds ($990,000).

Former Royal Bank of Scotland chief executive Fred Goodwin resigned in November when RBS ran into difficulties and was propped up with 20 billion pounds ($28 billion) in public money. On Thursday, RBS reported a full-year loss of 24.1 billion pounds ($34 billion). Deputy Labour chief Harriet Harman told the BBC on Sunday that Goodwin shouldn’t expect to get the full amount of his pension.

Prime Minister Gordon Brown said Goodwin’s pension is unjustifiable.

E. European nations don’t want bailouts

BRUSSELS, Belgium – Top European Union officials say at the end of summit talks that eastern European nations don’t want a special rescue program for their region.

EU Commission President Jose Manuel Barroso says the 10 eastern states of the bloc “do not want a program just for them” because different nations had different problems.

Czech Prime Minister Mirek Topolanek says the European Union will not leave any nation “in the lurch.” Topolanek chaired Sunday’s crisis talks on Europe’s troubled economies.

EU nations agreed that governments should make sure that bailouts for banks or car makers should not be protectionist or hurt the economies of other members in the 27-nation bloc.

Citizen Online Archive, 2006-2009

This archive contains all the stories that appeared on the Tucson Citizen's website from mid-2006 to June 1, 2009.

In 2010, a power surge fried a server that contained all of videos linked to dozens of stories in this archive. Also, a server that contained all of the databases for dozens of stories was accidentally erased, so all of those links are broken as well. However, all of the text and photos that accompanied some stories have been preserved.

For all of the stories that were archived by the Tucson Citizen newspaper's library in a digital archive between 1993 and 2009, go to Morgue Part 2

Search site | Terms of service