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Cameron and Greensill: a timeline of events in the lobbying scandal


Cameron and Greensill: a timeline of events in the lobbying scandal
From left, John Glen, Rishi Sunak, David Cameron, Lex Greensill and Mohammed bin Salman. Composite: Reuters/Rex/Shutterstock/UK parliament/AFP/Getty Images/Guardian Design Team
Roundup of key developments since former PM became finance firm’s ‘part-time’ special adviser in 2018
Fri 23 Apr 2021 12.23 EDT
Last modified on Fri 23 Apr 2021 14.31 EDT
David Cameron is at the centre the UK’s largest lobbying scandal in a decade.
Through emails, text messages and meetings, the former prime minister relentlessly pushed government and central bank officials on behalf of Greensill Capital – even as the pandemic unfolded. ....

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David Cameron kept pushing Bank to risk £20bn to help Greensill


On 16 March 2020, after introductions by Cameron, Lex Greensill sent Cunliffe a letter asking for government backing.
Greensill pitched the idea to the Bank of England as an opportunity to get money directly to small business borrowers. With a government-backed fund to support it, Greensill would also be free to issue more loans.
“In current markets, investors are unsettled and seeking redemptions. It is critical to stabilise the supply chain finance investor base at a matter of urgency,” Greensill said in the letter addressed to Cunliffe.
“In our judgment, the initial size of the facility needs to be in the order of £10-20bn if it is to provide the necessary level of confidence to the capital markets that will ensure effectiveness in this extraordinary time,” Greensill added. ....

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