The German Financial Ministry published a document Tuesday, saying "an orderly restructuring of Hypo Real Estate that preserves its substance via a value-conserving sale of its subsidiaries or assets will be rendered possible."
With individual governments stepping in and providing bailouts of their own, the prospects for the Saturday summit in Paris are unclear.
France will reportedly offer up a 300 billion euro bailout plan (about $429 billion) at the meeting that will span the entire European Union and work to rescue those affected in the financial sector. But the Agence France-Presse news agency has reported that the French Ministry of Economy is "categorically denying" the reports.
Stewart said he believed that the summit would be used to formulate an "international coordinated approach" to the crisis, but added that "what we're seeing now is a rather disjointed approach."
The meeting will also provide an opportunity to formulate "an EU structure that has commonality," Stewart told ABC News.
European Commission President Jose Manuel Barroso stressed the need to give credibility to the European response, saying, "we are urging member states for closer cooperation."
EU Competition Commissioner Neelie Kroes echoed Barroso's comments, saying, "I make a plea to national governments today not to act unilaterally, but to continue the practice of involving the commission. It is a must."
Whether some of these moves work remains to be seen.
"We haven't seen the worst yet," Stewart told ABC News. "You need to get the poison out of the wound, then repair the wound."
Do you have more information about this topic? If so, please click here to contact the editors of ABC News.
