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Myners on the Banking Commission report: "Very little is going to happen in the next 24 months"

Business quote of the day.

Lord Myners. Photograph: Getty Images

Former City minister Lord Myners is unconvinced of the significance of today’s Banking Commission report.
 
"This is a scholarly report which will meet considerable resistance over time from the banks. The banks have successfully derailed a number of similar interventions on capital, ringfencing, bonuses and I think we will see a similar response here.
 
"In many areas Tyrie has said there should be further reviews …very little is going to happen in the next 24 months as a result of this report."