October 12, 2008 4:54 PM

Britain, EU, buy into banks to save them

British and European leaders took unprecedented steps here late Sunday to try to halt a galloping financial crisis in its tracks, announcing aggressive action to take big stakes in banks and guarantee lending between banks.The hasty emergency action is also EU leaders' first such coordinated aggressive move since they adopted a common currency, the Euro, now used by 15 nations.

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