Nationalisation of Northern Rock in the event that the takeover bids fail. On 12 January 2008, the Treasury recruited Ron Sandler, the former Lloyd's of London Chief Executive, to lead Northern Rock, in the event that the bank was nationalised. If the Bank was to be temporarily nationalised, the government would manage the Bank at "arm's length" on a commercial basis, where services for savers and borrowers would not be affected and the company would continue to operate as normal. However nationalisation would also address the future of the Northern Rock Foundation. Alistair Darling rejected the possibility of the Bank being put into administration.
Northern Ireland Executive Northern Ireland Executive The Northern Ireland Executive is the devolved government of Northern Ireland, an administrative branch of the legislature Northern Ireland Assembly. It is answerable to the Assembly and was established according to the terms of the Northern Ireland Act 1998, which followed the Good Friday Agreement (or Belfast Agreement). The executive is referred to in the legislation as the Executive Committee of the Assembly and is an example of a consociationalist government. The Northern Ireland Executive consists of the First Minister and deputy First Minister and various ministers with individual portfolios and remits. The main Assembly parties appoint