Europe's Central Bank Steals Spotlight From Fed.

The article focuses on the aggressive role of the European Central Bank in coping with the effects of the global credit squeeze due to problems with the U.S. mortgage loan market. The bank has injected hundreds of billions of euros into the European economy, acting both more quickly and on a larger scale than the U.S. Federal Reserve, which has traditionally been the leader among central banks during financial crises. Some critics accuse the Central Bank of panicking.