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Financial tsunami swamps the world

September 17, 2008

Banks in Europe too are facing the heat.

Image: The logos of Deustche Bank (L) and Commerzbank are seen on the facades of branches of the banks on September 2, 2008 in Berlin, Germany. German insurer Allianz, which bought Dresdner Bank for Euro 24 billion seven years ago, is selling the troubled bank to Commerzbank for Euro 9.8 billion. The deal will make Commerzbank Germany's second biggest commercial bank after Deutsche Bank. | Photograph: Sean Gallup/Getty Images

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