UK banks slide further

(02:03) Report

Oct 7 - Recapitalisation rumours caused shares in UK high street banks to slump as much as 30 percent.

Western governments and central banks are facing demands for a unified approach to tackle the financial crisis after Australia unexpectedly cut interest rates by one percent - double what was anticipated.

Investors hope other central banks will follow suit but a coordinated response remains elusive.

Stefanie McIntyre reports.

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