www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> Europe
Europe mounts massive rescue bid
(China Daily)
Updated: 2008-10-14 06:54

BERLIN/PARIS: Germany, Britain and France announced massive financial rescues Monday as governments across Europe stepped in to shield banks and restore confidence in the face of the worst financial crisis in nearly 80 years.

The German cabinet approved a rescue package that will provide 400 billion euros ($543.4 billion) in bank guarantees and a further 100 billion euros in state funds to recapitalize banks, according to government sources.

A selection of British newspapers report on the 37 billion pound (47 billion euros, US$64 billion) investment in Royal Bank of Scotland, HBoS and Lloyds TSB. The Lodon Stock Exchange welcomed the bailout and the FTSE 100 was up 4.84 percent in midday trade. [Agencies] 

Britain, meanwhile, waded in with 37 billion pounds ($63.85 billion) of taxpayers' cash to bail out three major banks, in a move that could make the government their main shareholder.

French President Nicolas Sarkozy said his government will provide up to 360 billion euros ($491 billion) to help banks stay afloat through the financial crisis.

Related readings:
 World leaders look for joint action on economy
 European leaders agree on financial deal
 Asian and European leaders meet to address global issues

 Financial crisis to 'increase' mental illness

The measure is part of a raft of proposals agreed with other governments sharing the euro currency on Sunday to unblock frozen credit markets.

Sarkozy said the money includes 320 billion euros ($436 billion) to guarantee bank refinancing and another 40 billion euros ($54 billion) for a government-backed financing vehicle to provide banks with the capital they need.

Other euro zone countries were set to announce similar plans.

The drastic steps were a crucial test of investor faith in the ability of European governments to get a grip on the global financial crisis after they promised coordinated rescue packages at an emergency summit in Paris on Sunday.

Initial reaction was positive. Stock markets across Europe rallied on the outcome of the 15-nation euro zone summit, designed to restore trust in the banking system and rekindle frozen interbank lending.

"Thanks to the decisions that have just been taken, the peak of the crisis is perhaps behind us," Dominique Strauss-Kahn, managing director of the International Monetary Fund, told French radio.

The interbank cost of borrowing three-month sterling and euro funds also eased in response to the bank rescue measures.

Spanish Prime Minister Jose Luis Rodriguez Zapatero, whose country has been hit by a house price crash, said the bank bailouts could dent European sovereign debt credit ratings.

Under European Union accounting rules, the cost will be added to national debt rather than budget deficits.

The European Commission acknowledged that any hope of member states' balancing their budgets by 2010 as promised last year had been buried by the "exceptional circumstances".

"With the deterioration in the economic situation, there is going to be a deterioration of public finances. Fiscal revenues are diminishing and in some cases, they are diminishing strongly," commission spokeswoman Amelia Torres told a briefing.

"Expenditure remains the same and in some cases it's increasing where unemployment has already gone up," she said.

Underpinning the government plans, European central banks said they would lend as much US dollar liquidity as commercial banks needed in a renewed joint bid to tame money market tensions.

"The biggest change from today relative to last week is the fact that euro zone officials seem to have come up with a template plan from which national governments can pick and choose and implement where they see necessary," said Derek Halpenny, European head of Fx research at BTM-UFJ.

Although governments are bracing for a prolonged period of economic weakness, they hope the measures announced Monday will stem a crisis of confidence in the financial system.

"Despite prospects of a worsening economic crisis, we believe that the nationalization of parts of the banking system could be viewed as the defining moment that marked the start of the end of the financial crisis," Philip Finch, global banks analyst at UBS, said in a note to clients.

Agencies

主站蜘蛛池模板: 色综合日韩 | 日韩a一级欧美一级在线播放 | 久草网视频 | 99九九国产精品免费视频 | 欧美jizz18性欧美 | aaa在线观看高清免费 | 夜晚福利网站 | 一级a欧美毛片 | 亚洲清纯自偷自拍另类专区 | 在线成人97观看 | 一区二区三区四区在线播放 | 久久一区二区精品综合 | 一区二区三区四区在线视频 | 九九99靖品 | 97精品国产综合久久久久久欧美 | 欧美色爱综合 | 欧美手机看片 | 成人做爰在线视频 | 特级无码a级毛片特黄 | 精品视频免费在线观看 | 亚洲天堂精品在线观看 | aaa一级毛片免费 | 欧美精品做人一级爱免费 | 久草视频在线免费 | 精品特级一级毛片免费观看 | 国产三级日本三级日产三级66 | 亚洲国产亚洲片在线观看播放 | 欧美二级在线观看免费 | 午夜免费一级片 | 国产步兵社区视频在线观看 | 亚洲精品国产综合99久久一区 | 免费一区区三区四区 | 日韩精品三级 | 精品国产成人高清在线 | 一级做a爰片性色毛片中国 一级做a爰性色毛片 | a级免费 | 亚洲国产激情在线一区 | 狠狠色丁香婷婷综合久久来 | 男人亚洲天堂 | 成人国产第一区在线观看 | 国产成人免费视频精品一区二区 |