The ECB lowered its main lending rate by 0.25 percentage point to 0.75%, the lowest level in the central bank’s 13-year history. It reduced the rate it pays banks that deposit funds overnight with the central bank by the same amount, to zero. Both decisions were unanimous.
via Europe Central Banks Fight Slowdown – WSJ.com.
Comment:~ Lowering interest rates will help restore liquidity, but will not fix the current solvency crisis.