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The dollar's strength comes as the crisis on Wall Street appears to be spreading to the European financial system
After all-night talks the Belgian, French and Luxembourg governments said they would put in 6.4bn euros ($9bn; £5bn) to keep it afloat. ... This latest move by European governments to shore up another bank under pressure came as global stock markets plunged after the US House of Representatives rejected the White House's planned $700bn bail-out package.
With their high-profile moves to save Britain's Bradford & Bingley (BB.L), Belgium's Fortis (FOR.BR), Germany's Hypo Real Estate Group (HRXG.DE), and Iceland's Glitnir Bank government officials are changing the rules of the game in Europe.
Within a few days of extending a lifeline to the beleaguered Fortis, the Netherlands government has acquired the Dutch subsidiary of the banking and insurance major for about 16.8 billion euro.