Posted AT 9:28 PM EST on 12/10/08
Euro countries to temporarily guarantee bank refinancing: France
PARIS — Nations in Europe's single-currency zone agreed Sunday to temporarily guarantee bank refinancing and pledged to prevent banks failing as part of a raft of emergency measures designed to get credit flowing again.
It was Europe's most unified response so far to the global financial crisis and addresses a key part of the problem: banks' reluctance to lend to each other.
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