New Overnight Developments Abroad: Banking Crisis Slams Into Europe
September 29, 2008
The Benelux governments nationalized Fortis, Belgium’s biggest employers which will sell off AMB Amro. The British government nationalized the mortgage lender, Bradford and Bingley. Germany’s Hypo Real Estate in a rescue, too. The third largest Icelandic bank was nationalized. Money market strains in Europe intensified despite news that U.S. House of Representatives is likely to [...]
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