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EU leaders meet to discuss financial rescue plans

Gordon Brown is in Brussels today for a new round of talks, as EU leaders continue in their attempts to alleviate the financial crisis. One of the topics to be discussed at the summit is an across-the-board raising of the deposit guarantee in member states. This could see the UK's savings protection limit raised from its current level of £50,000 to just over £77,000. Earlier this week, France and Germany followed the UK in announcing plans to recapitalise banks.On Monday, Mr Brown said that a total of £37 billion would be spent on buying up shares in at-risk firms including RBS and HBOS. European Commission chief Jose Manuel Barroso warned today that the financial crisis was not over. "This is and remains work in progress," he told reporters. "We see light at the end of the tunnel but we are not yet there."

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