Europe Agrees Bail-Out Blueprint

Global Banking Problems Videos European leaders have agreed on a plan to jointly confront the banking crisis, French President Nicolas Sarkozy has announced. Current European Union President Sarkozy chats with Brown at Paris summit "This is indeed a joint action that we are undertaking," he told a news conference following a crunch summit of the 15 Eurozone countries in Paris. "This plan addresses all aspects of the financial crisis," he said. Mr Sarkozy said the 15 European countries that share the euro have agreed to guarantee interbank loans. France, Germany, Italy and "other countries" will unveil their national bank plans tomorrow, the French president added. Earlier, Gordon Brown claimed victory in his battle to convince his European counterparts that a British-style bank bail-out can stem global financial turmoil. The... [read full story]