Barclays ready to talk about talks - Business - Evening Standard
       

Barclays ready to talk about talks

Barclays is set to start "talks about talks" with the Treasury today as it calculates whether or not its should take part in the Government's Asset Protection Scheme. Shares in the bank tumbled 6.8p to 58p.

Negotiations with Government officials are likely to be even more tense than the long, drawn-out bargaining with Lloyds which was settled late on Friday.

Chief executive John Varley and his chairman Marcus Agius have made much of the fact that Barclays, which has assets and liabilities of more than £2000 billion, has avoided partial or even full nationalisation by raising capital from existing shareholders and several sovereign wealth funds.

Speculation over how much of its toxic assets Barclays could try to have guaranteed range from £50 billion to £80 billion, but some analysts say this would be far too little.

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