No early government bank exit

Governments that intervened to support financial institutions during the global financial crisis are likely to have to retain their stakes for between five and seven years, according to PricewaterhouseCoopers (PwC). Its 'Back to the future' report said the complexity of individual situations, difficult market conditions and an unattractive disposal environment have combined to make the possibility of governments exiting their stakes in the private sector in the short term highly unlikely. "Governments need to accept, given the limited likelihood of a quick extraction from the sector, that their main focus needs to be on the positive role they can play, given they are 'inside the tent,'" said John Hitchins, partner and UK banking leader at PwC.
 
 
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