Central banks pumping billions into world financial system

By Floyd Norrisand & Carter Dougherty
International Herald Tribune

December 12, 2007

Central banks in Europe and North America moved Wednesday to increase the amount of money they could lend to banks and to make it more readily available in an attempt to ease the credit squeeze, and stock markets rose across the Atlantic. It was the first time since the Sept. 11, 2001, terrorist attacks in New York and on the Pentagon that these central banks have coordinated their support of financial markets… more