Paul Flowers
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Paul Flowers: 'I was under pressure to make Lloyds deal'

The former chairman of the Co-op Bank, Paul Flowers, has said he was under "considerable pressure" from the government to complete a deal to purchase branches of Lloyds bank.

In April 2013 the planned sale of Lloyds branches to the Co-op Group fell through, with the Co-op blaming a worsening economic outlook and the tougher regulatory environment imposed on banks.

Mr Flowers, a Methodist minister with little experience in banking, became chairman of the Co-op board in April 2010.

Following drugs allegations he was arrested and suspended from both the Methodist church and the Labour party and later resigned from the Co-op.

The full interview with Paul Flowers can be watched on Newsnight, BBC Two at 2230 GMT

  • 25 Mar 2014
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