quantitative easing

The U.S. “Bails Out” Europe, Who Bails Out the U.S.?

September 17, 2011 // 1 Comment

From England’s The Guardian:

Fears of a deepening of Europe’s debt crisis have prompted the world’s leading central banks to pump US dollars into the financial system, in a co-ordinated action designed to boost market confidence.
Under the terms of the deal, banks will be able to bid for unlimited amounts of US dollars at fixed interest rates in three separate auctions. The first of these will be on 12 October.