European markets seen down 3.8-4.7 percent

LONDON (Reuters) - European stocks are set to open sharply lower on Monday, tracking a slide in Asian markets as investors doubted the scattered European response to the financial crisis and a U.S. bailout could avert a recession.

Financial bookmakers expected the FTSE 100 .FTSE to open down 200 to 223 points, or as much as 4.4 percent, Germany's DAX .GDAXI to open 214 to 221 points lower, or as much as 3.8 percent, and France's CAC-40 .FCHI to be down 183 to 190 points in the open, or as much as 4.7 percent.

"It's the poor European sentiment in terms of global demand ... and obviously what you are seeing with Hypo," said Chris Weston, a trader at IG Markets.

Germany offered a blanket bank deposit guarantee as it clinched a deal to rescue lender Hypo Real Estate HRXG.DE, while regulators from Washington to Seoul took their own steps to ensure the stability of financial firms.

The FTSEurofirst 300 .FTEU3 of top European companies closed up 3 percent on Friday.

(Reporting by Dominic Lau; Editing by Kim Coghill)