European governments have taken emergency measures to save three banks as the global financial turmoil continues to take its toll. The US secure narrow lead over Europe ...
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Dogs sniff out hope of millions from US tycoon's estate ... 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 ßamp; Bingley. Spanish bank Santander is to take over Bßamp;B's savings unit and branches. Stock markets across Europe have reacted with sharp losses across the board.
(Deutsche Welle)
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