The world faces a humanitarian crisis of historic proportions – and one that doesn’t involve the coronavirus. Over the last decade, global displacement of people from their homes due to war or political instability has grown from about 44 million to more than 71 million, which the United Nations High Commissioner for Refugees says far surpasses the estimated 60 million people displaced by World War II.
Ten years ago, Royal Bank of Scotland was battling with Barclays to take over a Dutch rival, ABN Amro. RBS eventually slapped £49 billion on the table and won. It was to be a transformational deal, and it certainly was — but not in any way that the boss of RBS at the time, Sir Fred Goodwin, had ever planned.