"The central bank ... will this week offer financial...

"The central bank ... will this week offer financial institutions in the 17-nation euro area unlimited three-year loans..."

" ... the ECB will act on behalf of Europe’s rescue fund, the European Financial Stability Facility, which has been empowered to intervene in bond markets. “Our aim is to be ready to provide agency functions in January next year,” he said." (European Central Bank President Mario Draghi)

At http://www.bloomberg.com/news/2011-12-18/draghi-tells-financial-times-bond-buying-unlikely-as-ecb-abides-by-mandate.html

My comment: And that imo is just for starters. Much more liquidity will be made available plus massive liquidity from the Fed which is able to provide funds to the US agencies of the European banks.

In addition wasn't it only a week or so ago we saw intervention from a number of nations in providing dollars' aid?