Entries tagged "German Chancellor Angela Merkel"
Stock investors around the world cheered new government plans to rescue the global financial system. Germany's Dax Index rose 7.58% in afternoon trading, after Chancellor Angela Merkel's government said it will provide as much as €500 billion ($681) billion to keep ailing lenders afloat. The FTSE 100 gained 4.8% as the U.K. government moved ahead with its plan to inject up to £37 billion ($63 billion) in major British banks. Around 10:30 a.m. in New York, the Dow Jones Industrial average jumped 442.3 points, or 5.23%....
In a global financial crisis moving at breathtaking speed, European leaders are not afraid to turn on a dime (or deutsche mark). Just 24 hours after German Chancellor Angela Merkel criticized the government of Ireland for guaranteeing deposits for its six biggest banks, she reversed course, announcing that her government would safeguard all German bank deposits. ...
