Taoiseach Enda Kenny has welcomed co-ordinated action from banks around the world to boost liquidity in the European markets.
Mr Kenny, who earlier warned of a "real and present danger" surrounding the deepening eurozone crisis and collapse of the euro, said the moves had already taken effect.
The European Central Bank (ECB) announced it would take action with other major institutions to reduce the price of its dollar swap with the US Federal Reserve to provide more liquidity.
"I understand that there has been an initial reaction that has been very beneficial for markets, though we've had that in the past," said Mr Kenny. "But it is welcome.
"It leads now to a real focus by political leaders on the political crisis in the eurozone, and I hope that the deliberations over the next week will lead to a point where there can be clarity and decisiveness about this, because it is so important for every country in the eurozone, the EU (European Union) and beyond."
Mr Kenny added that he believed the euro could be saved. He said: "I'm a believer in politics and in making decisions. I believe personally it can be saved and it will be saved. It requires more decisiveness and clarity and courage in making decisions here."
The ECB revealed it, along with the Federal Reserve and central banks of England, Japan, Canada and Switzerland, will pump billions into the world financial system through the plan.
"The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses, and so help foster economic activity," a spokesman said.
The plan, which will see dollars made available at cheap rates from next Monday, has already increased confidence in the stock markets. But the Taoiseach warned that European leaders must still act decisively when they meet for a summit on December 9 in a bid to prevent the spread of contagion.
Mr Kenny added: "This is a matter of the highest concern and urgency. There is a real and present sense of danger, with many openly suggesting that the very future of the currency as we know it is at stake."