This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7653868.stm

The article has changed 14 times. There is an RSS feed of changes available.

Version 0 Version 1
Plan to save German bank 'agreed' Plan to save German bank 'agreed'
(10 minutes later)
The German government and banks have agreed a 50bn euro ($70bn; £40bn) plan to save one of the country's biggest banks, the finance ministry says.The German government and banks have agreed a 50bn euro ($70bn; £40bn) plan to save one of the country's biggest banks, the finance ministry says.
The news comes after Chancellor Angela Merkel said she would do all she could to save faltering Hypo Real Estate.The news comes after Chancellor Angela Merkel said she would do all she could to save faltering Hypo Real Estate.
The government and the banks have found an extra 15bn euros after the collapse of a previous rescue plan.The government and the banks have found an extra 15bn euros after the collapse of a previous rescue plan.
Earlier, Ms Merkel moved to reassure German savers that all their deposits would be safe.Earlier, Ms Merkel moved to reassure German savers that all their deposits would be safe.
"With this mutually agreed solution, the institution [Hypo Real Estate] will be stabilised and with it, Germany strengthened as a place to conduct finance in difficult times," the finance ministry said."With this mutually agreed solution, the institution [Hypo Real Estate] will be stabilised and with it, Germany strengthened as a place to conduct finance in difficult times," the finance ministry said.
After an emergency meeting with the central bank earlier, Ms Merkel said: "We will not allow the distress of one financial institution to distress the entire system. For that reason, we are working hard to secure Hypo Real Estate.After an emergency meeting with the central bank earlier, Ms Merkel said: "We will not allow the distress of one financial institution to distress the entire system. For that reason, we are working hard to secure Hypo Real Estate.
"We tell all savings account holders that your deposits are safe. The federal government assures it.""We tell all savings account holders that your deposits are safe. The federal government assures it."
But BBC business editor Robert Peston says it is unclear if this is a 100% government guarantee of all savings deposits.But BBC business editor Robert Peston says it is unclear if this is a 100% government guarantee of all savings deposits.
He says that if it is, other EU states - including the UK - would have to follow suit.He says that if it is, other EU states - including the UK - would have to follow suit.
Ms Merkel has previously been strongly critical of the Irish and Greek governments' decisions to take independent action to protect all savings deposits.Ms Merkel has previously been strongly critical of the Irish and Greek governments' decisions to take independent action to protect all savings deposits.
The problems of Hypo Real Estate have put further strain on other financial institutions, which are struggling against a crisis of confidence in the global financial system.
Ms Merkel also said that managers at financial institutions should be held accountable for "irresponsible behaviour".
Finance Minister Peer Steinbrueck said he was "appalled" that the problems at Hypo had not been revealed earlier.