Nationalisation of Northern Rock that Northern Rock was to be nationalised claiming that the private bids did not offer "sufficient value for money to the taxpayer" and thus the bank was to be brought under a "temporary period of public ownership". The government is the sole shareholder through UK Financial Investments Limited, and the Bank is managed at "arm's length" on a commercial basis by an independent board under Ron Sandler. Customers are not affected by this change. A Government-appointed arbitration panel will decide on a fair price for the compensation to be offered to investors for their shares. Prior to the markets opening
Northern Ireland Executive Executive meetings. 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