Chancellor Angela Merkel has reaffirmed the German government's pledge - je 10.08.2008 08

Chancellor Angela Merkel has reaffirmed the German government's pledge to guarantee more than 1- Trillion euros in private savings in an effort to boost confidence in the banking sector. Her statement to German lawmakers is being described as "a political declaration" that does not require parliamentary approval. She also stressed the emergency bailout of the lender Hypo Real Estate was not a sign the government would write "blank checks" to irresponsible bankers. +++MAZ+++