Germany and Denmark to guarantee all private bank deposits; UK working on “big steps” to aid banks in return for public equity stakes; Iceland scrambling to avoid meltdown
Oct 6th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Germany on Sunday announced that it would guarantee all private German bank accounts valued at €568bn. Denmark made a similar move early Monday. Meanwhile, the UK signalled that it is working on "big steps" to aid its banks that would involve public equity stakes while Iceland is scrambling to avoid a meltdown as the financial crisis has pushed its currency, the krona, down 20% against the euro, in the past month.