America’s financial troubles are now the world’s as foreign officials scramble to heal injured credit markets. In what certainly can be called the most unified protective effort yet, European governments have collectively pledged to inject close to $2 trillion into the continent’s banking system. The huge rescue plan was agreed upon yesterday by the fifteen nations that adopted the euro, including Britain, Germany, France, Spain, Austria and Portugal. News of the enormous aid package has led to calmer markets, and bolstered stocks on Monday.
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