Is the People’s Bank on its way?

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Post Office told to cut Bank of Ireland ties as it expands banking services | Business | The Guardian .

The New Economics Foundation has campaigned for some time for a People's Bank, and I have supported it in doing so.

Now it looks like it may be on its way - based in Post Offices.

There are three pre-conditions:

1) Cut the existing contract with the bakrupt Bank of Ireland - on the grounds that it is bankrupt

2) Make this bank a state owned entity

3) Train high quality staff to work for it. This must be no second rate operation.

We need it, now. It's a scandal that even now vast numbers of people in this country have no proper access to properly regulated and reasonably priced financial services.