Plan stalls for pan-European answer to crisis

While the US economic-rescue plan awaits approval from Congress, a European plan to battle the financial crisis has run into problems. French President Nicolas Sarkozy proposed establishing a €300 billion rescue fund, but that plan collapsed. Meanwhile, Greece's Cabinet, following in the footsteps of Ireland, agreed to guarantee all bank deposits. European Central Bank President Jean-Claude Trichet and European Commission President José Manuel Barroso are set to discuss the crisis with leaders from Britain, Germany and Italy this weekend in Paris, but more dissension may follow the meeting because other countries were not invited to attend.

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