The difficulty is this: with the best will in the world, a merger between two UK-based domestic clearing banks, involving synergies of £1.5 billion, will inevitably, even with the best of motives, result in substantial job losses and a diminution of competition.While I support the means to stabilise the financial sector, many people will think it ironic, to say the least, that while substantial quantities of public money can be inputted to stabilise the financial sector, the outcome may...