UK banks may benefit from American bailout

Non-US banks like Barclays and Royal Bank of Scotland may be able to participate in the US Treasury's US$700bn (€888.9bn) plan to bail-out the banks being thrashed out today.

Non-US banks like Barclays and Royal Bank of Scotland may be able to participate in the US Treasury's US$700bn (€485.6bn) plan to bail-out the banks being thrashed out today.

The Bush administration has asked Congress for the sum to buy up toxic assets that are clogging the US financial system and threatening the economy as negotiations began on the largest operation of its kind since the Great Depression.