A new dawn for Northern Rock
Feb 23 2009 by Graeme King, The Journal
MP hails Northern Rock's rebirth
NEWCASTLE Central MP Jim Cousins hailed the rebirth of Northern Rock as a massive vote of confidence for the North East.
And he praised The Journal’s campaign to treat Northern Rock in a positive way.
The Labour MP, who sits on the influential Commons Treasury committee, spoke after months of campaigning urging the Government to overhaul its policy on Northern Rock.
He said: "This is the start of something new, something different and big. It is something some of us have been working for a year now. To begin with it seemed like an impossible dream. I feel a sense that we have turned a real corner here and it is the people of the North East that has made it possible.
"This really is going to be a great day for us. We have shown the people of the North East can tough it out and win battles that everyone thought we couldn’t win and we have won them.
"It is a real achievement. It is the most significant victory I have seen for the people of the North East for 30 years."
He praised The Journal, and its sister paper the Evening Chronicle, for closely following the Northern Rock story and offering support for its future – unlike other newspapers that talked down the bank.
He said: "They have been absolutely crucial in maintaining the support of people in this. It is a great victory. It is a great day. We have turned a corner. We have saved an important regionally based bank and now we can start building it for the future."
He also stressed that the European Commission must ease state aid rules that have hampered the development of Northern Rock.
