Europe Formulates Sweeping Crisis Plan

A WALL STREET JOURNAL ONLINE NEWS ROUNDUP France's President Nicolas Sarkozy says countries that use the euro will temporarily guarantee bank refinancing to ease the credit crunch. Mr. Sarkozy said the measure taken by the leaders of the 15 nations that use the currency is "not a gift to banks." He says it will be in place through the end of next year. That was one of several measures taken at an emergency summit of leaders of the 15 euro-zone countries in Paris on Sunday to find European solutions to the global financial crisis. Further details from the conference were not immediately available. Getty Images From left German Chancellor Angela Merkel, French President Nicolas Sarkozy, British Prime Minister Gordon Brown and French Prime Minister Francois Fillon get ready before a financial crisis summit. Earlier in the day, a... [read full story]