Central banks move to ease eurozone fears

Five central banks have announced a co-ordinated move to try to help ease pressures on the global financial system.

The central banks are to provide commercial banks with three additional tranches of loans.

Meanwhile, International Monetary Fund chief Christine Lagarde has warned of a "dangerous" new economic phase, saying "collective, bold, action" was needed or major world economies may "slip back".

Gavin Hewitt reports.