Crony capitalism

Lloyds plunges to £3.5bn loss for 2011

• Shares in Lloyds Banking Group biggest faller in FTSE 100

• Former executives could be in line for £2.2m shares

• Taxpayer sitting on £10bn loss on its 41% stake

• Bonus pool down 30% at £375m

• Average bonus for workforce stands at £3,900

http://www.guardian.co.uk/business/2012/feb/24/lloyds-plunges-loss-2011-shares

Lloyds chief executive António Horta-Osório is cutting 15,000 jobs, on top of the 30,000 already axed. Photograph: Reuters

Meanwhile...

Half of Britons think euro will fail by summer

Eurozone debt crisis has caused confusion among holidaying Brits

http://www.telegraph.co.uk/finance/personalfinance/insurance/travel/9100381/Half-of-Britons-think-euro-will-fail-by-summer.html

Two thirds of Britons think that the eurozone single currency will collapse in the future, with half of those queried predicting the euro would fail before this summer. Consumers said they thought Greece and Italy would be the first countries to leave the euro.

A report from currency specialists Travelex revealed that holidaymakers were unsure as to whether the euro was still legal tender in Portugal, Greece or Italy.

Travelex said that the ongoing eurozone debt crisis had caused confusion as to the future of the single currency, resulting in many holidaymakers planning to take francs and other past tender away with them this summer....