This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/global/2013/nov/21/paul-flowers-co-op-miliband-labour
The article has changed 5 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Ed Miliband distances Labour from ex-Co-op Bank chairman Paul Flowers | |
| (about 1 hour later) | |
| Ed Miliband has distanced himself from Paul Flowers, the Co-op Bank chairman accused of financial incompetence and buying hard drugs. | Ed Miliband has distanced himself from Paul Flowers, the Co-op Bank chairman accused of financial incompetence and buying hard drugs. |
| The Labour leader spoke about the disgraced bank boss after David Cameron tried to drag the opposition into the scandal over its lose links to the Co-op movement. | The Labour leader spoke about the disgraced bank boss after David Cameron tried to drag the opposition into the scandal over its lose links to the Co-op movement. |
| Asked about his relationship to flowers, Miliband told ITV News: "Paul Flowers was somebody who I met with on one occasion and had meetings with a wider group on a couple of other occasions. He was never my close adviser. | Asked about his relationship to flowers, Miliband told ITV News: "Paul Flowers was somebody who I met with on one occasion and had meetings with a wider group on a couple of other occasions. He was never my close adviser. |
| "The important thing now is to make sure that the Co-op can go from strength to strength in the future and the police need to look at any matters that arise for them." | "The important thing now is to make sure that the Co-op can go from strength to strength in the future and the police need to look at any matters that arise for them." |
| Asked if he welcomed the inquiry, Miliband said: "Let's see what the government proposes. What I am utterly confident about is the Labour party always acts with the utmost integrity and we did on this occasion too." | Asked if he welcomed the inquiry, Miliband said: "Let's see what the government proposes. What I am utterly confident about is the Labour party always acts with the utmost integrity and we did on this occasion too." |
| Labour claimed George Osborne, had questions to answer following a Financial Times report suggesting the chancellor pressed for the Co-operative Bank to be spared from tougher capital rules imposed by Brussels. | Labour claimed George Osborne, had questions to answer following a Financial Times report suggesting the chancellor pressed for the Co-operative Bank to be spared from tougher capital rules imposed by Brussels. |
| The shadow chief secretary to the Treasury, Chris Leslie, said: "There are now serious questions for George Osborne to answer about how the Co-operative Bank got into trouble on his watch and his role over the last three years. | The shadow chief secretary to the Treasury, Chris Leslie, said: "There are now serious questions for George Osborne to answer about how the Co-operative Bank got into trouble on his watch and his role over the last three years. |
| "The chancellor and his ministers actively encouraged the bank's failed bid for 632 Lloyds branches, with reports of 30 ministerial meetings to smooth the way for this deal. | "The chancellor and his ministers actively encouraged the bank's failed bid for 632 Lloyds branches, with reports of 30 ministerial meetings to smooth the way for this deal. |
| "What due diligence was done by the chancellor and the Treasury into the state of the Co-op Bank and its leadership? And why did the chancellor argue in Brussels for the Co-op Bank to be spared from tougher rules? | "What due diligence was done by the chancellor and the Treasury into the state of the Co-op Bank and its leadership? And why did the chancellor argue in Brussels for the Co-op Bank to be spared from tougher rules? |
| "If David Cameron wants a proper inquiry into what went wrong at the Co-op Bank, then George Osborne will have to answer all these questions." | "If David Cameron wants a proper inquiry into what went wrong at the Co-op Bank, then George Osborne will have to answer all these questions." |
| On Wednesday, Cameron ordered two inquiries into the bank in a move that sparked claims he was playing politics with the situation, as the wider Co-op Group has given donations and money to Labour. | On Wednesday, Cameron ordered two inquiries into the bank in a move that sparked claims he was playing politics with the situation, as the wider Co-op Group has given donations and money to Labour. |
| One inquiry led by the financial regulator will pre-date 2012 and cover the period back to 2009, when the Co-op merged with the Britannia Building Society at the height of the banking crisis. | One inquiry led by the financial regulator will pre-date 2012 and cover the period back to 2009, when the Co-op merged with the Britannia Building Society at the height of the banking crisis. |
| The takeover contributed to the £1.5bn capital shortfall revealed at the bank earlier this year and forced it into the hands of US hedge funds that owned its debt. | The takeover contributed to the £1.5bn capital shortfall revealed at the bank earlier this year and forced it into the hands of US hedge funds that owned its debt. |
| During prime minister's questions, Cameron described Flowers as the "man who has broken a bank" following questions about his suitability to run a bank, drug-taking and resignation as a Bradford councillor over adult material on his computer. | During prime minister's questions, Cameron described Flowers as the "man who has broken a bank" following questions about his suitability to run a bank, drug-taking and resignation as a Bradford councillor over adult material on his computer. |
| He said that Flowers had "trooped in and out of Downing Street under Labour" and was "still advising the leader of the Labour party". | He said that Flowers had "trooped in and out of Downing Street under Labour" and was "still advising the leader of the Labour party". |
| Cameron added: "And yet now we know all along they knew about his past. Why did they do nothing to bring to the attention of the authorities this man who has broken a bank?" | Cameron added: "And yet now we know all along they knew about his past. Why did they do nothing to bring to the attention of the authorities this man who has broken a bank?" |
| Questions have also been raised about the role of Conservative ministers in Co-op's financial woes. Mark Hoban, a former City minister, was deeply involved in discussions with the bank over its now aborted attempt to buy more than 600 branches from Lloyds Banking Group. | Questions have also been raised about the role of Conservative ministers in Co-op's financial woes. Mark Hoban, a former City minister, was deeply involved in discussions with the bank over its now aborted attempt to buy more than 600 branches from Lloyds Banking Group. |
| Asked about his involvement, Hoban said he had nothing to say. Osborne also intervened in a push to stop Co-Op being subject to tighter Brussels regulation on the level of capital it needs to hold. | Asked about his involvement, Hoban said he had nothing to say. Osborne also intervened in a push to stop Co-Op being subject to tighter Brussels regulation on the level of capital it needs to hold. |
| Flowers's Labour party membership has been suspended since the publication on Sunday of a video allegedly showing him handing over cash for illegal drugs. | Flowers's Labour party membership has been suspended since the publication on Sunday of a video allegedly showing him handing over cash for illegal drugs. |
| Our editors' picks for the day's top news and commentary delivered to your inbox each morning. | Our editors' picks for the day's top news and commentary delivered to your inbox each morning. |