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German Bank Bailout to Top More Than $500 Billion
German Chancellor Angela Merkel heads to Paris to present Sunday to her colleagues from the euro zone a financial sector bailout plan for Germany that's expected to be more than half the size of what has been enacted in the U.S.A person familiar with the situation told Dow Jones Newswires that the government is considering a total bailout plan of 300 billion to 400 billion ($402 billion to $536 billion), which includes state guarantees and the option to get a direct stake in banks. As part of this, the government is mulling recapitalizing financial institutions by injecting 50 billion to 100 billion in capital, the person who declined to be named said Posted by: Fluffy_Bunny 2008-10-13 |
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