The US Senate on Wednesday night approved by a large margin the Bush administration's $700bn plan to rescue the financial system, while European policymakers clashed on Wednesday over how to protect their own banks.
The Senate vote puts further pressure on recalcitrant Democrats and Republicans in the US House of Representatives, who threw out the Paulson plan on Monday and came under intense pressure from their leaderships on Wednesday to switch their votes.
Ahead of a new House vote expected on Friday, leaders from both parties expressed hopes that additions to the bill, including a large increase in the deposit guarantee ceiling, would sway dissenters.
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