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LONDON — Individual European governments issued a cascade of deposit guarantees to shore up their banks but fell short of any coordinated action Monday to deal with the crisis sweeping financial markets, even as stock markets plunged and the euro sank to its lowest level in more than a year.
Though Europe’s officials appeared to be paying lip service to the need for working together, they continued to make key announcements on deposits on a go-it-alone basis.
France, which holds the rotating leadership of the European Union, said its 27 governments have each pledged to take “all necessary measures to ensure the stability of the financial system,” but no joint action was forthcoming.
