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• World struggles with unified response to crisis
The EU pledged to protect people’s savings and maintain financial stability while euro zone finance ministers gathered in Luxembourg in an attempt to attack the crisis in unison. But some analysts were pessimistic that European powers could stop ...
• European markets recover lost ground
And the news that the governments of France, Belgium and Luxembourg will give struggling lender Dexia SA a yearlong guarantee on its new loans and deposits, sent the company’s shares soaring by 18 percent. No one in the markets though is willing to ...
• Oil dives 3.8 percent to 8-month low on demand fears
German officials clinched a rescue deal for lender Hypo Real Estate, Belgium and Luxembourg found a buyer for Fortis in BNP Paribas, and UniCredit, Italy's second-biggest bank, announced plans to raise capital. Just a day after leaders of Europe's ...
• EU leaders make vows not plans in face of crisis
The global financial crisis forced European leaders to gather for an emergency summit in Paris. From left to right, Luxembourg's Prime Minister Jean Claude Juncker, Italian Prime Minister Silvio Berlusconi, German Chancellor Angela Merkel, French ...
• Europeans scramble to save failing banks
Leterme said the Belgian and Luxembourg governments would, in turn, take a blocking minority share in BNP Paribas. The deal came after two days of closed-door talks between the Paris-based bank, Fortis and government authorities in an effort to ...