Brussels: European governments from Brussels to Copenhagen to Berlin rushed to shore up their faltering banks as the credit crunch worsened in Europe. BNP Paribas agreed to buy Fortis's units in Belgium and Luxembourg for 14.5 billion euros ($19.8 billion) after a government rescue failed, while the German state and financial institutions put together a 50 billion-euro rescue package for Hypo Real Estate Holding. Denmark and Germany said they will guarantee all their countries' bank deposits. Financial shares tumbled in European trading on concern the hurried actions will fail to unlock bank lending. The leaders of Europe's four biggest economies were unable to agree on joint responses at an October 4 meeting, pledging instead to work together to limit the economic fallout, ease accounting rules, and seek tougher financial...
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