UK's Darling: Europe must cooperate on economy

LONDON (AP) -- British Treasury chief Alistair Darling says European countries must work together to tackle problems in the banking system.

Darling told lawmakers Monday that it is essential the Continent coordinates its response to the world's financial turmoil.

His comments follow unilateral moves by Ireland, Germany, Austria, Greece and Denmark to guarantee bank deposits. But European Union competition chief Neelie Kroes says that those decisions pose competition concerns and could hamper efforts to stabilize banks.

Darling urged better cooperation between European allies in a statement to the House of Commons. But he says Britain is ready to do "whatever is necessary" to protect banks and depositors.

The statement comes as leaders of the EU's 27 member countries have pledged to take "all necessary measures to ensure the stability of the financial system."

(Copyright 2008 by The Associated Press. All Rights Reserved.)

Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to Please provide detailed information.

powered by Disqus


6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 30515029 -
Gray Television, Inc.