Investopedia: Central Banks Take Another Kick At The Can

Investors who believe that markets work best when governments stay as far away as possible are likely grinding their teeth again. In response to widespread rumors that major European banks are finding dollar-denominated sources of liquidity dry up, most of the Western world's central banks have decided to step in and address the matter. While this will certainly move the markets in the short run, central banks do not have an indefinite supply of fingers to plug the seemingly endlessly leaky dyke that is the European financial system.

The Latest Effort  
With Greece still apparently on an express lane to default, and fears of knock-on effects in countries like Portugal and Italy, investors have started to approach many European banks (particularly French and German banks) from the viewpoint that much of their balance sheet is about to go up in smoke. Accordingly, there are fewer and fewer willing lending partners in the market and many banks have reportedly found it difficult to get the dollar-denominated financing that they need.


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http://stocks.investopedia.com/stock-analysis/2011/Central-Banks-Take-Another-Kick-At-The-Can-STD-BCS-UBS-SPY-IEF-GLD-GE0920.aspx