Boris Johnson’s ‘moral hazard’: No money to save Thomas Cook, but plenty for war with Iran (if it comes)

AFP Petros Karadjias

The UK government has ruled out a peaceful intervention to save historic travel agent Thomas Cook, and 9,000 jobs, but has declined to rule out (a far more expensive) military intervention in the Gulf.

One day, two very different UK government decisions. Prime Minister Boris Johnson effectively signed the death warrant of 178-year-old travel company Thomas Cook, the world’s oldest holiday operator, by refusing to invest in the company the £150mn it needed to carry on trading. He said that bailing out Thomas Cook would have set up a ‘moral hazard’, in the case of other companies facing future financial difficulties.

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