With the financial crisis engulfing developing countries, Western officials are weighing coordinated action to try to stabilize these economies.

Hungary’s central bank signed a deal to borrow money from the European Central Bank to stave off the effects of the financial crisis and avoid becoming the next Iceland.

Britain took effective control of two big banks, and France, Germany and other countries offered financial guarantees.

Britain took effective control of two big banks, and other countries offered more than a trillion euros in loan guarantees and other support.

After a weekend of crisis talks, European nations and the United States unveiled a staggering and coordinated series of multi-billion dollar rescue packages on Monday.

Britain began propping up banks with taxpayer funds while the Fed and three European central banks said that they will offer financial institutions unlimited dollars to ease the banking crisis.

European governments pledged to safeguard bank deposits in a bid to stem financial panic, but they stopped short of a coordinated strategy.

European governments pledged to safeguard bank deposits in a bid to stem financial panic, but they stopped short of a coordinated strategy.

European governments pledged to safeguard bank deposits in a bid to stem financial panic, but they stopped short of a coordinated strategy.

As European stocks fell sharply, leaders scrambled to prevent the growing credit crisis from bringing down major banks and alarming savers.