by Calculated Risk on 10/12/2008 12:27:00 PM

From Bloomberg: European Leaders Seek `One Voice' to Counter Crisis

The 15 euro countries may agree to guarantee interbank loans of as long as five years to break the credit-market freeze, according to a draft statement cited by Agence France- Presse.

From the NY Times: European Leaders Meet as More Measures Extended

Financial and political leaders were holding meetings across the globe Sunday, urgently seeking agreement on measures to restore confidence to the teetering financial system before markets open Monday in Asia.
...
Nicolas Sarkozy, the French president, said after a meeting at the Élysée Palace with Prime Minister Gordon Brown of Britain that he expected European countries to present an “ambitious and coordinated plan” that goes beyond measures announced by the Group of 7 industrialized countries in Washington on Friday.

The UK will announce the details of the capitalization plan at 7 AM Monday London time. But it sounds like there will be an EU announcement even earlier - before the Asian markets open.