Taoiseach welcomes new move to tackle world financial crisis
Taoiseach Enda Kenny has today welcomed the co-ordinated effort by central banks around the world to boost liquidity in the financial system.
"I understand that there has been an initial reaction that has been very beneficial for markets, though we’ve had that in the past," he said. "But it is welcome.
"But it leads now to a real focus by political leaders on the political crisis in the eurozone, and I hope that the deliberations over the next week will lead to a point where there can be clarity and decisiveness about this, because it is so important for every country in the eurozone, the EU and beyond."
The European Central Bank, US Federal Reserve, Bank of England and central banks in Japan, Switzerland and Canada are to pump billions of dollars into the world financial system.
From next Monday, dollars will be made available at cheap rates and, if warranted, other currencies will also be lent.
European stock markets are soaring this afternoon on foot of the announcement.
