France proposes 300 bn euro rescue package: source

BERLIN: France is proposing creating a 300-bn-euro (420-bn-dollar) EU rescue package to prevent the collapse of any European bank, a European source said on Wednesday.

A spokesman for the German finance ministry said however that Berlin is opposed to any such package, which is due to be proposed at a meeting of the leaders of France, Germany, Britain and Italy in Paris on Saturday.

"Germany does not think much of such a plan," spokesman Torsten Albig told.

Speaking in an interview with German daily Handelsblatt to be published on Thursday, French Finance Minister Christine Lagarde said that France would propose a rescue package but did not say how large she envisioned it to be.