BERLIN (AP) — The German government on Monday assembled a rescue package worth as much as 500 billion euros ($671 billion) to shore up the country's financial system — part of a coordinated European bailout effort. Finance Ministry spokesman Torsten Albig put the total figure at 500 billion euros ($671 billion). The ministry said the package foresees up to 400 billion euros ($536.7 billion) in guarantees for banks. On top of that is up to 80 billion euros ($107.3 billion) to recapitalize banks — allowing the state to take stakes — and 20 billion euros ($26.8 billion) to back up the guarantees. The money will go into a newly created "financial market stabilization fund." The Finance Ministry said banks will be able to draw on that until the end of 2009. "We are taking drastic action, no question about it ... so that what we...
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