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Monday, October 06, 2008

Euro Leaders Promise Whatever's Needed

European Union leaders pledged to protect depositors from losing their savings and to support the financial system, seeking to bolster confidence as shares tumbled across the region today.

EU countries ``will take whatever measures are necessary to maintain the stability of the financial system,'' according to a joint statement by the 27 EU member countries that was released today by Italian Prime Minister Silvio Berlusconi's office. ``We will continue to take the necessary measures to protect the system so that individual depositors in our countries' banks do not suffer any loss of money.''
Most European exchanges dropped in the 7% range.

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