European governments have taken emergency measures to save three banks as the global financial turmoil continues to European banks drawn into downwards spiral ...
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EU Slams Iran Stoning as Report Shows Spike in Executions ... take its toll. The German government announced it is guaranteeing 35 billion euros in credit from a consortium of banks for the troubled Munich-based lender Hypo Real Estate.
The Benelux governments have gone one step further and partially nationalised banking and insurance giant Fortis. Ministers from the Netherlands, Belgium and Luxembourg agreed to inject over 11 billion euros to prevent Fortis from collapsing. In Britain, the government has said it is nationalising mortgage lender Bradford Яamp; Bingley. Spanish bank Santander is to take over BЯamp;B's savings unit and branches. Stock markets across Europe have reacted with sharp losses across the board.
(Deutsche Welle)
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