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Europe puts more on the line for banks than US
- Text size
ANGELA CHARLTON and EMMA VANDORE
Associated Press
October 14, 2008
PARIS – Europe put $2.3 trillion on the line Monday to protect the continent’s banks, a figure that dwarfs the Bush administration’s $700 billion rescue program, in its most unified response yet to the global financial crisis after a stumbling start.
- A d v e r t i s e m e n t
The pledges by Britain and the six countries that use the euro helped soothe stock markets, along with a promise by top central banks to provide unlimited short term dollar credits.
The action by Germany, France, the Netherlands, Spain, Portugal, Austria and Britain came after weeks in which the governments often acted at cross purposes and sniped at each other — a piecemeal approach that failed to stop steep and frightening slides on financial markets.
“The time of each one for itself is fortunately over,” French President Nicolas Sarkozy said, following a Cabinet meeting that approved France’s spending in the framework of the plan.
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October 14th, 2008 at 9:48 am
more money for the fat cats ….. more rage for you and me …. start the end ..
October 14th, 2008 at 9:54 am
get ready for world wide hyperinflation
October 14th, 2008 at 10:12 am
Why didn’t we think about bailouts long ago? Just bailout anyone or any company that gets into trouble. Everybody’s problems would be solved. PARADISE!
October 14th, 2008 at 11:07 am
#2, I think it’s more of US, UK, Europe, Australia hyperinflation than worldwide. Have you seen China, South Korea, Arabs, Southeast Asia pumping money into the system like the western world? NO. Why? Because people have saving, they produce, industry base not service base. They don’t have high leverage practice, they don’t heavily involve in derivative crooked market. It’s true that they will get impacted but it will not be nearly as bad as the western world. If you haven’t noticed, credit card business are having hard time to break through China and those countries? People’s cultures and people mind sets are different that the west. They spend what they save not on credit. The western world did this to themselves: buy now pay later. Here is the PAY time.
October 14th, 2008 at 11:18 am
Free money, here banks, here banks. Good, that’s a nice bank. Here you are. Nice bank. Now mind. Fund these systems, defund these. Optomize. Not that way, we already have the model. Here it is. . .
October 14th, 2008 at 3:13 pm
I am not real smart..But correct me if I am wrong.. about 3 months ago SPain announced it was in adepression, France announced the same about two weeks ago, a week before the bailout Germany said it was doing okay.. but then it claimed over the weekend it was approaching recession.. The US sent part of the abilout to Europe….
NOW all of a sudden they have TRILLIONS of dollars…?
Something is rotten in Denmark..Literally..
These people are either lieing thier asses off..or don’t have a clue and just making up numbers..
Where did this money all of a sudden come from?
Maybe a repayment for expenses financing the rebuilding of Europe after WWII would be in order..
October 14th, 2008 at 6:18 pm
Europe is not fthing a big war like the US do and save and don;t live on credit, it’s that simpel!!!!!!!!!!!!!
October 14th, 2008 at 7:12 pm
http://www.aniboom.com/video/2.....ll-speech/
October 14th, 2008 at 7:44 pm
OMG and everyone that i speak to says im paranoid ,ah well how come evrything ive being passing on is coming true?
October 14th, 2008 at 9:45 pm
So here’s the question, this pseudo good news will keep Gold from exploding for roughly how long? a week? a month? 3 months? Please, we need a genius guess!
October 14th, 2008 at 11:10 pm
Did You know, that in the complete history of the DOW eight out of ten top peaks occured during the early years of the Great Depression?
#3 was the day after the great kickoff crash of 1929. What? the majority of the best DOW peaks occured during the great depression? What?
The DOW is not exactly the best indicator of where we are. We know where we are, and once the bailout money hits the banker boyz, game gets tough.
Best Days of the Dow (% Gain)
1 15.3% March 15, 1933
2 14.9% October 6, 1931
3 12.3% October 30, 1929
4 11.1% October 13, 2008
5 10.1% October 21, 1987
6 9.5% August 3, 1932
7 9.5% February 11, 1932
8 9.4% November 14, 1929
9 9.4% December 18, 1931
10 9.2% February 13, 1932
October 15th, 2008 at 9:07 am
let the brits and the eu put there money in there stockmarket. it has been theres from the get. remember the queen at the end of the revolution the she told us that if i cant take this country by force i will take it clandestily. i personaly think that if you look at the history of the market and the major brit sympathisers that have ran the market since it inception i think it truly shows who the enemy of this counrty is. its our very first enemy, the ones we fought for the freedom of this country and until we realize this the country will always fight this shit. please reply.