Emergency plan for European banks

Agence France-Presse

"We believe the situation is serious but controllable," Zettelmeyer was quoted as saying. "We have a few months to act, but in some countries only a few weeks."The official said the plan under discussion could involve Ukraine, Romania Hungary, Croatia, Serbia, the Baltic states and "potentially" Russia.

A spokesman at the EBRD headquarters in London would not confirm a specific plan for banks in Eastern Europe but said the institution had already helped several banks, mainly in Romania, and that a new package had been announced for 10 banks in Ukraine.