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Treasury "stretched" and ill-prepared for crisis - report

LONDON (Reuters) - Treasury walked blind and ill-equipped into the 2007-9 financial crisis, staffed by a young, small workforce with little experience of bank failure and a "limited capacity on financial stability", an official report said on Thursday. The White report, commissioned by government to learn lessons from the crisis and to improve The Treasury's handling of economic turbulence, delivers a scathing assessment of pre-credit crunch contingency planning and said not enough had been done since to improve capability. ...

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