среда, 14 марта 2012 г.

Business Highlights

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Dollar access no long-term fix for Europe's crisis

LONDON (AP) — Five central banks acted Thursday to shore up confidence in Europe's financial system by giving its banks far greater access to U.S. dollars.

The move buys time for banks that hold large amounts of debt issued by Greece and other financially troubled European countries. Some of these banks have had trouble paying for daily operations because other banks have refused to lend to them.

Under Thursday's action, the banks can borrow unlimited dollars for three months, up from the current one-week limit.

The European Central Bank said it will coordinate with the U.S. Federal Reserve, the Bank of …

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