TEN years on from the global financial crash of 2008, a new BBC documentary will deliver a dramatic account of one single day, 7th October 2008, when The Royal Bank of Scotland nearly collapsed and almost took the entire UK banking system down with it.
The Bank That Almost Broke Britain, broadcast on Tuesday 2nd October on BBC Two at 21.00, tells the extraordinary story of how a relatively small Scottish bank – The Royal Bank of Scotland – grew to become the biggest in the world, before triggering the largest financial bail-out in British history.
The documentary follows the spectacular rise and fall of the bank, with revealing recollections from those who were on the inside at the time, including then Chancellor Alistair Darling, former Business Minister Baroness Shriti Vadera, ex-RBS chair Sir George Mathewson and Governor of the Bank of England at the time, Mervyn King.
The Bank That Almost Broke Britain also explores the story of Sir Fred Goodwin, who in less than six years rose from accountant to overseeing the extraordinary growth of RBS as its CEO.
The documentary reveals how the Government had just 24 hours to come up with a plan, with the nation’s economy at stake, and asks how much of the political turmoil we experience today can be directly traced back to the bail-out of the banks.
The Bank That Almost Broke Britain is produced by STV Productions.
Executive producer, Michael McAvoy at STV Productions, said: “This financial thriller gives viewers real insight into the nightmare scenario that unraveled that day in October 2008 and reveals how close the country came to financial disaster.”
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