DW-World.de
Deutsche Welle

The leaders of the European Union's 27 member countries have pledged to do all they can to maintain the stability of the financial system. A statement released simultaneously in all EU capitals said the measures could include liquidity from the central banks, specific measures for individual banks or a reinforcement of bank deposit guarantees. The joint declaration stresses the need for coordination and cooperation between EU members. It comes after unilateral moves by Germany, Ireland, Austria, Greece and Denmark to guarantee bank deposits. EU competition chief Neelie Kores has said these moves pose competition concerns.