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Ms Kroes has some concerns about the Irish bank guarantee, but otherwise, such a move is an appropriate response to the crisis (Photo: European Commission)

EU endorses bank deposit guarantees

The 27 EU leaders have vowed to "take all measures necessary" to ensure the stability of the ailing financial system.

According to a statement issued by EU French presidency on Monday evening (6 October), EU governments will not hesitate - if needed - to inject liquidity from central banks, to adopt measures targeted at certain banks or to enhance deposit guarantees.

"No depositor in the banks of our countries has suffered losses and we will continue to take the necessary measur...

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Ms Kroes has some concerns about the Irish bank guarantee, but otherwise, such a move is an appropriate response to the crisis (Photo: European Commission)

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