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Eric Daniels, President and CEO of Lloyd's, said MEPs concentration does not lead to a lack of competition.?Photo: Tom Stockill

"It is a highly competitive market and I am not sure that divide the banks gives a better result," he told the Commission of the Treasury Board.

Mr. Daniels, leaving the Bank next year, said: "Concentration does not lead to a lack of competition."

Lloyd's is the leading supplier of UK retail banking products with almost 30pc shares accounts and mortgages after its takeover of HBOS during the depth of the financial crisis.

An independent commission examines competition in the sector and there is a threat he sought Lloyds to be interrupted when it signals the end of next year.

"This is a hypothetical question... is very premature to judge a result,"Said Mr. Daniels questioned to the threat of a breakup.""

The Government owns 41pc Lloyd ' S after pumping billions of pounds to save and HBOS during the financial crisis.

Government sits on a paper loss of approximately ￡ transmitters on this game, but he briefly sat on a profit when the actions of the Lloyd's rose earlier this year. Daniels said that the timing of the sale of this game is a problem for financial investments UK, the body that it holds, but would like that ideally more same shareholder base.

Mr. Daniels said that he had not held talks with the Government of the United Kingdom on premiums for that year, but said his bank payments were lower than rivals as it was mainly a commercial bank. He said that it would be reasonable to expect that banks discussed price pay Government.

He also defended its Bank against charges that it discloses customers, particularly in terms of interest charged on overdrafts.

"Large, discovered are a product of very low return," he said.

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But the European Commission has insisted there were new concessions to members in its recent proposals in the form of an "Emergency Fund" of up to €3. 5bn (￡ 3) in case of unforeseen circumstances. "

Discussions on the budget of the European Union ended in stalemate last month after Britain leads a group of countries who refuses to provide members of Parliament more dirty word to say in the future spending priorities.

EU budget today Commissioner Janusz Lewandowski said the Commission was anxious to get the €126. 5bn budget approved by the end of the year.

Did not do so would be tantamount to an efficient spending of the EU, gel that budget line is set.

That combination Prime Minister David Cameron, who wanted a spending freeze throughout, but agreed with the other Ministers accept a 2 9pc rise, but not one euro more.

Today new compromise sticks to this promise – the Commission confirming that "pension fund" could not in any case be used by 2012 at the earliest.

But Mr Lewandowski seized the concession as key to an agreement with Parliament in the coming weeks, saying: "I am pleased that Council (Ministers of the EU) have agreed to establish a margin of emergency of until 0 03pc (€3. 5bn) as an instrument of last resort to respond to unforeseen circumstances."We welcome it as a step forward.?

However, such a fund already exists in the current book of the rule of the EU budget, and members may now require a larger prior to accepting the plan concession.

But British officials were now contained new contract does not break 2 9pc rise year prochaine.Un spokesman for the British Government said: "the UK has been clear that any increase in 2 levels of budget 2010 9pc is unacceptable.?

Mr Lewandowski said it was now necessary settle an agreement no later than 31 December.

"Despite what some people say, the budget of the European Union is not a budget for amounts less than 6pc total budget, which means almost 95pc budget goes to stimulate economic growth European cities and regions, to scientists, farmers and students, to protect our environment, tackle climate change, to make our transport safer and in Europe to operate such a scene mondiale.Il 500 million Europeans I EU institutions functioning Bruxelles.Le am convinced that the agreement is at your fingertips," he said. "

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