The ECB will co-ordinate a network of national central banks, the European System of Central Banks.

BBC: EMU fast facts

The Bundesbank, once renowned defender of the mighty Deutschmark, is today just a cog in the European system of central banks.

ECONOMIST: A tussle over the integrity of a once-great central bank

The U.S. dollar index traded lower Thursday, in part due to the news of the central banks injecting greenbacks into the European financial system.

FORBES: P.M. Kitco Metals Roundup: Comex Gold Ends Sharply Lower on Uptick in Investor Risk Appetite, Technically Related Selling