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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Tensions build in Crimea

Many analysts believe that the Crimea in Ukraine could be the next flashpoint after the war in Georgia.

Ukraine itself is divided between those who want closer ties with the West and those who prefer to stay within Moscow's orbit. The pro-Western coalition in Parliament has collapsed forcing a dissolution of the government.

The Crimea has a large ethnic Russian population and it is believed that Moscow is offering Russian passports to many of them. The Crimea was the site of what many consider the first "modern war" between the Western European nations of France, the United Kingdom and Sardinia, who sided with the Ottoman Empire against the Russian Empire.

Voice of America

After Georgia war, eyes turn to Crimea
Houston Chronicle - 1 hour ago
By MARIA DANILOVA AP SERGEI CHUZAVKOV AP Pro-Russian activists in the Ukraine last month celebrate the anniversary of the 19th-century war over the Crimea, where about 35000 Russian troops were killed.
Yushchenko to dissolve parliament PRESS TV
Putin: Ukraine gave military aid to Georgia in war with Russia Christian Science Monitor

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