France recently floated an ambitious plan for a E300 billion ($532 billion) bailout fund to rescue crippled banks across Europe, drawing an outright rejection from Germany and scepticism from Britain. As the world held its breath on the fate of the US's $US700billion ($890 billion) bank bailout plan, French President Nicolas Sarkozy sought in vain the backing of European leaders for his own lifeboat.
[of course. they scream that we need do something - but them?
FLASHBACK NNBrief 10-06-08: SO MUCH FOR EUROPEAN TIRADES AGAINST AMERICAN GREED re: "EU banks took on even more debt leverage than their U.S. counterparts," ...
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Tuesday, October 7, 2008
France on its own in $530bn EU bailout plan
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