Europe Stuns with €1.5 Trillion Bank Rescue
October 15th, 2008Via: Telegraph:
Germany, France, Italy, Spain, Holland and Austria have joined forces to launch the greatest bank bail-out in history, offering over €1.5 trillion in guarantees and fresh capital in a “shock and awe” blitz to halt the credit panic.
The move – unveiled simultaneously in the six states to maximise the show of unity – throws the full weight of the eurozone behind global efforts to stem the crisis.
Posted in Economy | Top Of Page
I’m not being facetious when I wonder why Portugal and Belgium weren’t included. They’re not the most important countries in the world to be sure, but IIRC, they are fairly significant long-standing members of the “Eurozone”.