Darling: I won't rule out merging Northern Rock & Bingley

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The Chancellor told MPs he was keeping his options open during the "fast-moving" crisis in the banking industry.

Challenged by the committee to deny that he planned a state-owned superbank, he said: "To make any specific comment like that at a time when things are changing rapidly... would be unwise. I will do whatever is necessary. We will do what is best in the public interest."

Mr Darling admitted that mistakes were made by government regulators in the run-up to the credit crunch. And, increasing pressure on Gordon Brown to give an apology, he said there was a need to show "humility".

He rejected calls to cap executive pay in banks bailed out by the taxpayer. Labour MP Nick Ainger said he should copy Barack Obama's $500,000 (£343,000) ceiling. But Mr Darling feared a brain-drain. "We have got to make sure that we don't end up with a situation where banks start attracting people who are key to making, say, RBS and the Lloyds Group work in the future," he said.

He added: "I want to get these banks off government hands so we can get our money back."

Analysts predict the City will pay £3.6billion in bonuses this year.

Earlier, Mr Brown was warned by one of his most influential MPs that he sounds "shrill and mechanistic" to the public. Jon Cruddas said David Cameron was more successful in capturing the public mood and appeared to be "the real deal".

"It's hugely dangerous," said Mr Cruddas, MP for Dagenham. "When we could appear shrill and mechanistic, Cameron is talking about relationships, empathy and fraternity."

Mr Brown was also pitched into a row with officials in Brussels who dismissed yesterday's reform proposals by Lord Turner as "European ideas wrapped in a British flag". The row broke as the PM arrived at a summit where he claimed to be selling Lord Turner's report as a British solution for the rest of the world to copy.

But one official snorted: "Lord Turner's proposals are European ideas wrapped in a British flag. In many ways they are a cut-and-paste of the La Rosiere report [a recent EU study]." Today's summit was called to agree measures on the recession ahead of the London G20 summit on 2 April.