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Salmond bid to boost Scots banks Salmond bid to boost Scots banks
(about 1 hour later)
Scotland has to prepare for the eventual upswing in financial services, according to the first minister.Scotland has to prepare for the eventual upswing in financial services, according to the first minister.
Alex Salmond will be delivering the message at a major industry event in Frankfurt this week.Alex Salmond will be delivering the message at a major industry event in Frankfurt this week.
He is leading a delegation that is trying to repair the damage to Scotland's reputation since its two biggest banks came close to collapse.He is leading a delegation that is trying to repair the damage to Scotland's reputation since its two biggest banks came close to collapse.
He will meet the president of the European Central Bank and the prime minister of Luxembourg.He will meet the president of the European Central Bank and the prime minister of Luxembourg.
In a conference address, he will say the industry will face change and pressure before a period of renewed investment, and Scotland has to position itself for that recovery.In a conference address, he will say the industry will face change and pressure before a period of renewed investment, and Scotland has to position itself for that recovery.
Labour opponents have recently criticised Mr Salmond, saying he is not doing enough to safeguard bank jobs.Labour opponents have recently criticised Mr Salmond, saying he is not doing enough to safeguard bank jobs.
The Royal Bank of Scotland and HBoS - which includes Bank of Scotland - both have headquarters in Edinburgh.The Royal Bank of Scotland and HBoS - which includes Bank of Scotland - both have headquarters in Edinburgh.
They needed a multi-billion pound bailout from the government a year ago.They needed a multi-billion pound bailout from the government a year ago.