Police and highways officials also closed the A39 road because flood water was threatening to break the banks of a nearby waterway.
The government needs permission to break-up the banks from European competition commissioner Neelie Kroes.
The proper solution obviously is to break-up the banks into their stand-alone parts.
Having the means to stabilise failing banks and wind up failed ones would break the feedback between weak banks and weak sovereigns.
He said it could increase instability and currency speculation, and greater democratic accountability was needed instead, as well as the break-up of the big banks.
The pair also backed the chancellor's call for the break-up of banks that did not implement the ring-fence properly.
What it doesnt mean is a mortgage backed securities crisis leading to the break up of numerous banks that are levered to the hilt and to a credit squeeze that causes layoffs of people thrown out of their homes by commercial banks and a massive number of foreclosures.
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The Conservatives said the break up of the state-owned banks had already been "well trailed".
If they were used to bail out commercial banks directly, they could break the pernicious circle in which unstable banks use the debt of barely solvent governments to shore themselves up.
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We affirm that it is imperative to break the vicious circle between banks and sovereigns.
Europe's leaders were determined to break the cycle of weak banks undermining governments.
"It is imperative to break the vicious cycle between banks and sovereigns, " the eurozone leaders said in a statement.
This would help break the link between weak banks and weak sovereigns.
The question then is how does Germany, whose leader declared in June along with other euro-area leaders that "it is imperative to break the vicious circle between banks and sovereigns, " propose to break that circle?
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Lastly, cross-border financial integration has spread far enough to channel contagion from one country to another, but not so far as to break the cycle of weak banks and weak sovereigns bringing each other down.
He said president Obama was not talking of a full-scale break-up of the banks but wanted to "separate retail deposit-taking from large-scale proprietary trading, large internal hedge funds and large internal private equity funds and I agree with him".
In order to break the vicious circle between banks and sovereigns, technical discussions on the future ESM direct bank recapitalisation instrument will also start in September so that the ESM could, following a regular decision, have the possibility to recapitalise banks directly once an effective single supervisory mechanism is established.
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There was already a sense that the plan would not be enough to break the log jam in the credit markets, where banks are even refusing to lend to each other.
If, after the Christmas break, the interbank market still stutters, central banks will continue to have a problem transmitting their monetary-policy message to the market.
Just like the Federal Reserve stepped in and gave big banks a break, Rosen says the U.S. Education Department can do the same.
It's possible that the ultimate threat of break-up will concentrate the mind of individual banks, and give them a stronger incentive to take the ring fence seriously.
She supports the Dodd-Frank rules that would give regulators the power to break up banks through forced restructuring or bankruptcies.
BIS, naturally, does not break out the commitment of individual banks.
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The call to break up banks is hardly new.
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The Conservatives would create a Financial Regulation Division within the Bank of England and a Financial Policy Committee similar to the rate-setting Monetary Policy Committee, which would monitor systemic risks and have the power to break up banks.
Yet Bankers has failed to break into the top tier of investment banks.
"Euro Area members of the G-20 will take all necessary policy measures to safeguard the integrity and stability of the area, improve the functioning of financial markets and break the feedback loop between sovereigns and banks, " they said.
Europe, though, is already in a recession and, while the risk of a break up is minimal, will need to recapitalize banks and beef up the safety net the EFSF and ECB provide to sovereign bond issuers to get through the sovereign debt mess.
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