'Trash the banks and you trash Britain': PM's words on economy

David Cameron has issued one of his strongest defences of the banking sector yet, telling the Lord Major's banquet those who "trash the banks would end up trashing Britain".

In a speech traditionally focused on foreign policy, Cameron said while technology and manufacturing would fuel Britain's economic recovery, it was important to support the country's banking system. "Right now Britain is in a global race," he said. "It is a moment of reckoning for every country. Sink or swim. Do or decline." Cameron added: "Pursuing a modern industrial strategy does not mean being anti-finance. Some utterly terrible mistakes were made, and they need to be addressed properly so they can never happen again. "But those who think the answer is just to trash the banks, ...