The French solution was for the banking regulator to step in to try to broker a compromise.

ECONOMIST: British banking

On 7 January, a fire started in a lithium-ion battery pack of a Japan Airlines 787 in Boston, prompting the US regulator to step in and ground the 787s.

BBC: Dreamliner battery redesign approved by FAA

The regulator says this exceptional step was taken only when vb.ly did not respond to inquiries (vb.ly denies this).

ECONOMIST: Shortened web links are convenient, but they come at a price

If trustees fail to agree on a set of longevity assumptions with their employers then the regulator will be able to step in and impose them.

BBC: Warning on pensioners' longevity

The report says for that to happen, the government, the regulator and Jersey Finance need to step back and let the industry get on with it.

BBC: Geoff Cook

Minutes after he did so the prime minister swapped places and a smile with his deputy Nick Clegg who took the unprecedented step of making his own separate Commons statement saying that only a new law could guarantee the independence of any regulator.

BBC: Leveson Inquiry: Will Cameron regret Leveson?