AOL.com Video - Central Banks to the Rescue

VIDEO:News

Central Banks to the Rescue

Description:Central banks around the world took dramatic action to make sure European banks have enough money as the euro zone's sovereign debt crisis worsens. The US Federal Reserve, The European Central Bank and the central banks of Japan, Britain, Canada and Switzerland all agreed to reduce the cost of temporary dollar loans by half a percentage point. Those loans are called liquidity swaps. It will start on Monday. (2:17)

Source: Reuters

Tags: Central Banks to the Rescue , central banks joint effort , Central Banks Reduce Loan Cost , europe debt crisis