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Steering Committee agrees on WestLB rescue

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BERLIN (Dow Jones) – Representatives of the Federal Government and WestLB-Owners are located just before the deadline in the night from Tuesday to Wednesday on a restructuring plan for the country’s once proud bank agreed and thus avert such orders.

This was announced by a spokesman for the Ministry of Finance late on Tuesday evening. Further details were not immediately known.
The Secretary of the Treasury Steffen Kampeter will explain the agreement soon, the spokesman said.