Germany says its financial sector rescue package foresees up to ¤400 billion (US$536.7 billion) in guarantees for banks and as much as ¤80 billion (US$107.3 billion) for recapitalization. The Finance Ministry is saying Monday that banks will be able to draw on the services of a newly created so-called «financial market stabilization fund» until the end of 2009. Chancellor Angela Merkel and Finance Minister Peer Steinbrueck were to present the package _ part of a coordinated European rescue effort _ later in the day following a special Cabinet meeting, Associated Press reported.
