Robert Peston
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Robert Peston on Project Merlin bank deal delay

BBC business editor Robert Peston explains why talks have stalled on a government bid - called Project Merlin - to get the banks lending again to small businesses.

It should free up £200bn in loans and see discussions on the pay and bonuses of bankers before the annual bonus round begins.

Mr Peston said there were "a couple of not terribly serious obstacles" holding up the deal but he suspects the delay could be to allow the announcement to come at a better time for those involved.

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  • 24 Jan 2011
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