By Armen Hareyan on 2007-12-18 
The European Central Bank is offering banks unlimited emergency loans at below market rates, in a co-ordinated bid to inject liquidity into the money markets.
The cash injection is open to banks for the next two weeks and comes as the Bank of England is making $27 billion available to British institutions.
International markets are struggling to deal with the unravelling mortgage crisis in the United States.
Several other central banks are holding similar auctions to try to avert an economic downturn. - By ABC Australia, Copyright 2007
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