European governments plan to rescue ailing markets

The World

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

Invest in independent global news

The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!