Reinventing euro-area central banks

La monnaie nationale est morte - vive la banque centrale? With national money deceased - quite literally cremated - central banks in the euro area could be forgiven a moment of identity crisis. But the euro-area monetary environment brings with it new contours to old challenges: issues that are analytically difficult and whose resolution inherently calls on powers of counsel and persuasion more than financial intervention. This article focuses on two domains: firstly, analysis and advice on

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