Banks in the UK are sufficiently resilient to remain largely unaffected by the financial downgrades regularly taking place in the eurozone at present.
That is the assertion of prime minister David Cameron, who believes that while steps still need to be taken to resolve the region's debt crisis, British financiers will be able to resist the pressure from the weak performance of many of their continental counterparts.
Last week, leading credit rating agency Moody's cut the score of 16 Spanish lenders amid ongoing fears about the Iberian nation's financial future.
This included Banco Santander and the bank's British subsidiary Santander UK, which had raised concerns among some people in the UK regarding whether they will be impacted by problems in Spain.
However, during a press conference at a NATO summit yesterday (21 May), Mr Cameron moved to dispel such doubts.
"People should know that British banks are well regulated [and] well capitalised," he noted.
By Asim Shah