More European countries guarantee bank deposits

The Cambodia News.Net
Monday 6th October, 2008

A growing number of European countries have decided to guarantee bank deposits in response to the persistent unrest in the financial world.

Ireland took the step last week, and was much criticised by other European Union countries.

However, now the panic seems unstoppable, and Germany, Spain, Portugal, Greece, Denmark, Sweden and Austria have all issued guarantees for bank deposits.

Meanwhile, EU finance ministers have been meeting to discuss the crisis.

President of the European Commission Jose Manuel Barroso has again called on member states to coordinate their approach.

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