FXstreet.com

EU finmins-to take steps needed to protect banks

Tue, Oct 7 2008, 13:30 GMT
http://www.afxnews.com

BERLIN, Oct 7 (Reuters) - European Union finance ministers said on Tuesday they would take all necessary measures to protect the banking system and deposits of individual savers.

"We agree that public intervention has to be decided at national level in a coordinated framework," the ministers said in a joint statement released by the German finance ministry.

"We have agreed to support systemic financial institutions," the statement said.

"We all commit to take all necessary measures to enhance the soundness and stability of our banking system and to protect the deposits of individual savers," it added.

"To protect the depositors' interests and the stability of the system, we stress the appropriateness of an approach including, among other means, recapitalisation of vulnerable, systemically relevant financial institutions," it said.

(Reporting by Kerstin Gehmlich and Iain Rogers)

tf.TFN-Europe_newsdesk@thomsonreuters.com

cmr

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

Nikkei to open higher after holiday yesterday
Forex Live | Mon, Nov 23 2009, 23:45 GMT

Forex: Majors consolidate ahead of Japan opening
FXstreet.com | Mon, Nov 23 2009, 23:36 GMT

2nd UPDATE: Fitch Cuts Mexico Rating, Cites Lower Oil Output
Dow Jones | Mon, Nov 23 2009, 23:25 GMT

EUR/USD volatility to increase as the day unfolds
Forex Live | Mon, Nov 23 2009, 23:03 GMT

Forex: Yen falls against European currencies
FXstreet.com | Mon, Nov 23 2009, 22:57 GMT

[ View All ]

Latest Updated Reports

Forex Market Alerts - Chart GBP/JPY Update: Piercing-pattern set last session fading deeper pullback by FXMarketAlerts
Mon, Nov 23 2009, 23:44 GMT

Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Mon, Nov 23 2009, 23:41 GMT

Daily Global Commentary - Low Mortgage Rates and Tax Credit Lift Sales of Existing Homes by Northern Trust
Mon, Nov 23 2009, 22:19 GMT

Market Session Recaps - New York Session by FOREX.com
Mon, Nov 23 2009, 22:12 GMT

U.S. Forex Market Commentary by GCI
Mon, Nov 23 2009, 22:10 GMT

[ View All ]


Interested in forex trading? forex brokerage firms!


MG Financial Group
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
Interbank FX, LLC
Contact the broker/FDM
Open a demo account
Alpari (UK) Limited
Contact the broker/FDM
Open a demo account
IG Markets
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.