European governments plan to rescue ailing markets
Fifteen nations have come to the rescue, and stock markets in Europe and Asia have given a strong welcome to the latest rescue plans for the world financial system. The new Euro-zone plan announced this morning guarantees loans between banks and provides government capital to protect ailing financial institutions. In London, Paris, Frankfurt and Milan, the main indices rose around five percent in early trading. The Ugly Week That Was is behind us but what is ahead as Europe and the UK proceed with plans to take control of the worldwide banking system? With the United States expected to follow, this is a defining moment not only for this crisis but also for the capitalist system itself. Guest: Alex Ritson, BBC business correspondent
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