European governments, after initial disarray, have agreed on a set of seven shared principles for dealing with the financial crisis, but they failed to agree on a common policy for protecting individuals’ savings, saying only that all 27 countries have agreed to protect savings for a minimum of one year for €50,000 but some might go higher. Financial Times The British government’s imminent package to bolster banks is expected to cost £35-50 billion, with the emergency plan to “part-nationalize” the nation’s largest banks coming after Royal Bank of Scotland lost 59% of its value in two days and HBOS losing 41%. Financial Times and The Times, London

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