Wall Street Bailout

[DERBENSKI]

Here comes the European Bank bailout....

In recent days, Germany has resisted pressure from European partners for an EU-wide rescue package for banks that would mirror the $700 billion plan in the United States and said bank troubles should be handled on a case-by-case basis.

But Steinbrueck reversed course on Monday: "I am very much aware that at some point individual solutions are no longer enough," he told reporters in Berlin. He said Berlin was looking at putting up an "umbrella for Germany as a whole, so that we don't go from one case to the next".

http://www.reuters.com/article/marketsNews/idUSL623740620081006

Derb