The Irish republican party wants Northern Ireland to stay in the customs union and single market - and are trying to convince the Brussels club to back their demand.It sets them on a collision course with Theresa May and the DUP who are propping her up in No10, who have ruled it out as it would move the hard border to the Irish sea.The bank added £87billion to the public debt, pushing net debt as a proportion of output to 43.3 per cent - in breach of Gordon Brown's 'golden rule' on sustainable investment.The Government announces it is putting back the deadline for Northern Rock to repay its £26.9billion debt in a move designed to allow it to keep more borrowers on its books and ease the credit crunch.It is hoped, however, the final price tag will rise to £1billion if certain conditions are met, such as a stock market flotation.
A sale at that level would have recouped the Government its bailout money plus a £100million profit.David Buik, markets commentator at stockbroker BGC Partners, said: '(The sale price) is a little less that the £1.5billion that many expected 18 months ago.However in the current climate a bird in the hand is worth two in the bush.Bank of England Governor Mervyn King is first alerted to potential problems with Northern Rock.The bank's chairman, Matt Ridley, speaks to Mr King about the possibility of a support operation and begins the hunt for a possible buyer.
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