Germany guarantees savings to avert panic

The German authorities announced on the 5 October 2008 it would guarantee all private German bank accounts – currently worth €568bn – in a dramatic move to prevent panic withdrawals as fears over the worldwide financial crisis spread to Europe’s largest economy.

BBC News, 6.10.08: Germany clinches bank rescue deal http://news.bbc.co.uk/1/hi/business/7653868.stm

Deutsche Welle, 6.10.08: Germany Rescues Hypo Real Estate http://www.dw-world.de/dw/article/0,2144,3692522,00.html

ESO: Background information: Summit on the international financial crisis, Paris, 4 October 2008 http://www.europeansources.info/record/summit-on-the-international-financial-crisis-paris-4-october-2008-fresh-questions-raised-over-europes-response/

ESO: Background information: Berlin agrees new package to save Hypo http://www.europeansources.info/record/berlin-agrees-new-package-to-save-hypo/

Deutsche Welle, 7.10.08: Germany guarantees savings to avert panic http://www.dw-world.de/dw/article/0,2144,3697217,00.html

Deutsche Welle, 6.10.08: Germany Mulls Umbrella Protection for Entire Bank Sector http://www.dw-world.de/dw/article/0,2144,3693221,00.html

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