Central Banks Opens Credit to Struggling Euro Zone Banks

Friday, September 16, 2011

The European Central Bank announced yesterday it will work with the Federal Reserve to open new lines of credit to banks in the 17 nations that use the euro. The Bank of England, Bank of Japan and the Swiss National Bank are also pitching in to help. The ECB says it will allow banks in the euro zone to borrow money for three months — rather than the previous rule of a week — which injects dollar liquidity into European banks. The news comes as European banks are suffering from chronic financial squeezes.

Peter Spiegel, Brussels bureau chief for The Financial Times, covers what he calls "the general euro zone implosion."

Comments [2]

listener

"Lend a note of seriousness" from our Treasury Secretary?
Didn't he submit an admittedly unsustainable budget which increased spending by trillions of dollars and was soundly defeated in the Democrat controlled US Senate 97-0 this year?

Sep. 16 2011 08:38 AM
maryosborne from ca

They will announce it when nobody expect that.It will come up like lightnings. http://bit.ly/psv3C9

Sep. 16 2011 04:30 AM

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