(PARIS) - The French economy ministry on Wednesday denied a report that it wanted a 300-billion-euro rescue mechanism to prevent the collapse of European banks, a ministry source said.

The ministry "categorically denies" that it had wanted to put forward such a proposal, a source said.

Earlier Wednesday, a European source in Berlin said France had proposed the idea, which a spokesman for the German finance ministry said Berlin opposed.

The package was to be outlined at a meeting of the leaders of France, Germany, Britain and Italy in Paris on Saturday, according to the European source.

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