Global financial crisis in October 2008 by the Senate, 263-171 in a bipartisan vote. Discussions were ongoing in Europe regarding possible remedies for financial instability in Europe leading up to a conference Saturday afternoon in Paris hosted by Nicolas Sarkozy, president of France. UniCredit of Italy was reported to be the latest bank to come under pressure. During the night of October 2 Greece followed Ireland's lead and guaranteed all bank deposits. On October 3 it was reported that Wachovia had rejected the previous offer from Citigroup in favor of acquisition by Wells Fargo, resulting in a legal dispute with Citigroup. In Britain, the Financial Services
Global financial crisis in September 2008 Romania, and Ukraine the economic crisis was characterized by difficulties with loans made in hard currencies such as the Swiss franc. As local currencies in those countries lost value, making payment on such loans became progressively more difficult. As the financial panic developed during September and October 2008, there was a "flight-to-quality" as investors sought safety in U.S. Treasury bonds, gold, and currencies such as the US dollar (still widely perceived as the world’s reserve currency) and the Yen (mainly through unwinding of carry trades). This currency crisis threatened to disrupt international trade and produced strong pressure on all world