Monday, October 13, 2008

Yesterday was ”the hour of Europe, demonstrating its unity,”

Europe Guarantee Banks to Halt Financial Meltdown

European leaders agreed to guarantee new bank debt and use taxpayer money to keep distressed lenders afloat, trying to stop the worst rout in Europe's stock markets in two decades and stave off a recession. At a summit chaired by French President Nicolas Sarkozy, leaders of the 15 countries using the euro hammered out an unprecedented battle plan for bandaging the crippled credit markets and halting panic among investors.

Posted by malct @ 08:39 AM (380 views)
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