Tuesday, 7th October 2008 - 14:42CET

EU finance ministers vow to protect depositors

European finance ministers meeting today in Luxembourg have declared that they will take whatever measures are necessary to ensure the stability of the financial system – whether by injecting liquidity from central banks, by measures targeted at certain banks or by enhanced measures to protect deposits.

"No depositor in the banks of our countries has suffered losses and we will continue to take the necessary measures to protect the system and depositors," the ministers said.

The meeting was attended by Finance Minister Tonio Fenech.