Monday, October 06, 2008

European leaders agree to a £12bn bailout

European leaders agree to £12bn financial crisis rescue package - Telegraph
"The plan to set up a small businesses fund across Europe was supported by French president Nicolas Sarkozy, German chancellor Angela Merkel and Italian prime minister Silvio Berlusconi at an emergency European Union summit in Paris"

Also from the article, these quotes from British Prime Minister Mr. Gordon Brown ...
“I want the message to go out from this meeting today that no sound, solvent bank should be allowed to fail through lack of liquidity. That is why we have taken action in Britain yesterday to extend the liquidity that is available to the banking system. That is why the European Central Bank has done likewise.

“That is why also we must take the action necessary to sort out whatever failings exist in the system. Every country represented here today wants to do whatever is necessary to ensure the stability of the system and to ensure the safety of hard-working families and businesses.”

Amen to that ...