European Stocks Soar On Bailout News
Stock markets soared after European governments announced a series of giant financial rescue plans. The packages were unveiled by Great Britain, Germany, France, Italy and others. They involve government guarantees of bank lending, as well as cash injections into troubled banks. The rescue plans may involve pay limits for CEOs, and the government taking equity stakes. Great Britain's plan involves the government buying shares in three big financial institutions, and becoming an owner of these once-private banks. The U.S. Treasury is also working on a similar plan.
Copyright © 2008 NPR. For personal, noncommercial use only. See Terms of Use. For other uses, prior permission required.
RENEE MONTAGNE, host:
NPR's business news starts with big bank bailouts in Europe. Stock markets are soaring after European governments announced a series of giant financial rescue plans. Rescue packages unveiled by Great Britain, Germany, France and Italy, among other EU states, involve government guarantees of bank lending as well as cash injections into troubled banks. The rescue plans may involve pay limits for CEOs and the government taking equity stakes. Great Britain's plan involves the government buying shares in three big financial institutions and becoming an owner of these once-private banks. The U.S. Treasury is also working on a similar plan.
Copyright © 2008 NPR. All rights reserved. No quotes from the materials contained herein may be used in any media without attribution to NPR. This transcript is provided for personal, noncommercial use only, pursuant to our Terms of Use. Any other use requires NPR's prior permission. Visit our permissions page for further information.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.
Related NPR Stories
More From Economy
Comments
You must be signed in to leave a comment. Sign In / Register
Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.
