Global Financial Crisis. The ECB is injecting €70 billion in liquidity to stabilize financial markets. This is the Eurotower’s second consecutive extraordinary move, following Monday’s €30 billion injection. In total, in two days, the central bank injected €100 billion in liquidity into financial markets, restoring confidence in banks shaken by the Lehman collapse, Bank of America’s bailout of Merrill Lynch, and the risks surrounding the US insurance giant American International Group (AIG). Fifty-six banks participated in the operation, with a total demand of €102.48 billion.
