Sunday, October 05, 2008

Germany backs bank deposits

Shortly after its largest bailout in history, Germany guaranteed bank deposits for its citizens in a further attempt to address the credit crunch crisis.

Last week, Ireland and Greece backed bank deposits, and the UK raised its insurance cap from 35,000 pounds to 50,000 (US $88,400).

French President Nicolas Sarkozy in which Germany, France, Italy and the U.K. is working on a unified European Union response to the problem

Times Online
Germany guarantees private deposits
MarketWatch - 57 minutes ago

By Steve Goldstein, MarketWatch LONDON (MarketWatch) -- Germany became the latest, and by far the biggest, European country to explicitly guarantee the deposits in banks held by their citizens, in a move announced Sunday.

Hypo Real Gets EU50 Billion Government-Led Bailout (Update1) Bloomberg
Germany Moves to Shore Up Confidence in Economy New York Times

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