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| France unveils bank rescue plan | France unveils bank rescue plan |
| (10 minutes later) | |
| The French government is to inject 10.5bn euros ($14bn; £8.2bn) into the country's six largest banks. | The French government is to inject 10.5bn euros ($14bn; £8.2bn) into the country's six largest banks. |
| The announcement was made by Finance Minister Christine Lagarde and follows similar moves by other governments across Europe. | The announcement was made by Finance Minister Christine Lagarde and follows similar moves by other governments across Europe. |
| Among the beneficiaries, France's largest bank, Credit Agricole, is to get 3bn euros, while BNP Paribas will receive 2.55bn euros. | Among the beneficiaries, France's largest bank, Credit Agricole, is to get 3bn euros, while BNP Paribas will receive 2.55bn euros. |
| The move is aimed both at restoring confidence and liquidity to the banks. | The move is aimed both at restoring confidence and liquidity to the banks. |
| Among the other banks, Credit Mutuel will get 1.2bn euros, Caisse d'Epargne 1.1bn euros, and Banque Populaire 950m euros. | |
| Ms Lagarde said the move was to ensure banks are "able to finance the economy correctly". | |
| President Nicolas Sarkozy has vowed that no French bank will be allowed to collapse and that savers will not lose "a single euro". |