Barclay's balance sheet is now larger than the annual output of the entire UK economy after ballooning to more than £2tn in 2008, it revealed yesterday.
As the bank attempted to win over sceptics concerned about potential black holes in its Barclays Capital investment banking division, chief executive John Varley insisted the sheer size of the bank's assets and liabilities would not be a source of instability for the bruised financial system. The annual output of the UK economy is about £1.5tn.
from the Guardian
