SPIEGELONLINE INTERNATIONAL: Response to Washington's multibillion-dollar Wall Street bailout has involved a lot of skeptical grumbling in Germany and the UK. German Chancellor Angela Merkel says the Bush administration has mishandled Wall Street, and that its refusal to adopt stricter rules led to the current crisis.
The United States government is campaigning around the world for support for its multibillion-dollar Wall Street rescue package. The reaction has been skeptical at best -- and in Europe the plan has been met with bareknuckled criticism.
German Chancellor Angela Merkel has accused the US government of serious failures which she believes contributed to the current credit crisis. In particular she blamed Washington for resisting stricter regulation.
On Monday she also said the crisis could hurt the German economy. "The whole thing is going to set the pace for the economy in the coming months and perhaps years," Merkel said at a meeting of her party, the conservative Christian Democrats. Merkel Says Washington Helped Drag Europe into the Credit Crisis >>> dsl -- with wire reports | September 22, 2008
STUTTGARTER ZEITUNG ONLINE:
Deutschland beteiligt sich nicht an Hilfspaket: Berlin/Washington - Die Bundesregierung will sich nicht an dem gigantischen US-Rettungspaket für den Bankensektor beteiligen. Regierungssprecher Ulrich Wilhelm sagte, die aktuelle Krise habe ihre Ursache im US-Hypothekenmarkt und im Verbriefungsgeschäft. Man werde daher kein eigenes Programm zur Stabilisierung der Finanzmärkte auflegen und sich auch nicht an dem US-Paket beteiligen. Der republikanische Präsidentschaftskandidat John McCain sprach am Montag von der "schlimmsten Krise seit dem Zweiten Weltkrieg." >>> AP | 22. September 2008
TRIBUNE DE GENÈVE:
La Suisse contaminée par la crise financière : BANQUES | Rendement des caisses de pension, perte de confiance dans UBS ou cartes de crédit: nos habitudes vont changer. Les banques suisses, dont UBS, pourraient perdre quelque 650 millions à cause de Lehman Brothers. >>> Par Élisabeth Eckert, Pierre-Yves Frei et Philippe Rodrick| © TdG | 17.09.2008
TIMESONLINE:
Wall Street Falls Again as $700bn Bailout Is Delayed by Political Squabbling: Just after the collective sigh of relief was drawn following last week’s financial turmoil, a startling late plunge in the US stock market last night started a fresh wave of fears for banks, savers, pension holders and employees.
It had appeared that a $700 billion (£378 billion) bailout of the banking system announced by the US Government on Friday had restored some stability.
But the stock market euphoria generated by the plan disappeared yesterday as political squabbling over the terms of the rescue threatened to delay the Bill. A sudden surge in oil prices also unsettled the markets. >>> By Miles Costello and Leo Lewis in Tokyo | September 23, 2008
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