Patrick Hosking and Adam Sage produced a superb article today announcing “France yesterday floated an ambitious plan for a E300 billion ($532 billion) bailout fund to rescue crippled banks across Europe, drawing an outright rejection from Germany and scepticism from Britain. As the world held its breath on the fate of the US’s $US700billion ($890 billion) bank bailout plan, French President Nicolas Sarkozy sought in vain the backing of European leaders for his own lifeboat.” Read the article here.
