Europe to protect every major bank

At a crisis summit in Paris also attended by British Prime Minister Gordon Brown, the 15 eurozone nations committed billions of euros to defend their banking systems amid the growing financial crisis. The leaders announced they were willing to partially nationalise banks when necessary, while vowing to guarantee the lending between banks. They also said no bank integral to the financial system would be allowed to fold. “We confirm today our commitment to act together in a decisive and comprehensive way in order to restore confidence and proper functioning of the financial system, aiming a...