FXstreet.com

Germany may need shield for bank sector-Steinbrueck

Mon, Oct 6 2008, 06:47 GMT
http://www.afxnews.com

BERLIN, Oct 6 (Reuters) - Germany needs to consider establishing a nationwide umbrella to protect its banking sector, German Finance Minister Peer Steinbrueck said on Monday.

"We must now attempt, by way of a singular solution with Hypo Real Estate, to put up an umbrella for Germany as a whole, so that we don't go from one case to the next," Steinbrueck told German radio Deutschlandfunk.

Germany on Sunday thrashed out a new rescue for imperilled lender Hypo Real Estate and also pledged to guarantee private savings accounts.

Steinbrueck also said he could not rule out the state raising its guarantee for Hypo Real Estate.

He also said Hypo's collapse would have meant a conflagration across the banking sector and that the measures to protect savings were meant to give people a reassuring signal.

(Reporting by Madeline Chambers and Dave Graham) Keywords: HYPOREALESTATE/STEINBRUECK

tf.TFN-Europe_newsdesk@thomson.com

vs

COPYRIGHT

Copyright Thomson Financial News Limited 2008. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

Thomson Financial News

The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited For more information and to contact AFX: www.afxnews.com and www.afxpress.com

Breaking Forex News

Brazil Real Closes Unchanged In Thin Volume
Dow Jones | Mon, Nov 23 2009, 18:53 GMT

Forex: GBP/USD moves away from daily highs
FXstreet.com | Mon, Nov 23 2009, 18:37 GMT

Forex: USD/CHF consolidates low levels below 1.0100
FXstreet.com | Mon, Nov 23 2009, 17:57 GMT

US Economic Indicators: Latest 6 Months Data-Nov 23
Dow Jones | Mon, Nov 23 2009, 17:42 GMT

US Economic Indicators: DJ Survey Of Forecasters-Nov 23
Dow Jones | Mon, Nov 23 2009, 17:41 GMT

[ View All ]

Latest Updated Reports

Fundamental Currencies Comments - Stocks, commodities gain; Dollar declines by ecPulse.com
Mon, Nov 23 2009, 19:02 GMT

Forex Technical Report - S&P Rally Fails to Break through Last Week's High by ForexHound.com
Mon, Nov 23 2009, 18:52 GMT

Forex Technical Report - U.S. Dollar Bottoms after Existing Home Sales Report by ForexHound.com
Mon, Nov 23 2009, 18:41 GMT

Daily Options Intelligence Report - Bear play on Focus Media ADRs by Interactive Brokers LLC
Mon, Nov 23 2009, 18:17 GMT

Daily Support and Resistance - Daily Support and Resistance by FX-Forecaster.com
Mon, Nov 23 2009, 17:14 GMT

[ View All ]


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Forex Club Financial Company
Contact the broker/FDM
Open a demo account
Deutsche Bank
Contact the broker/FDM
Open a demo account
City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.