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Turkey gets a second chance

After a near crisis in 2006, the central bank and its new governor are stocking to an inflation target of 4% for end-2007. Could this be the year Turkey finally convinces the world it has achieved sustainable non-inflationary growth? Justin Keay reports

Unhappy euro hopefuls

Prospects for adopting the euro remain remote for many EU countries in Central and Eastern Europe, and in the Baltics, writes George Kopits

How the euro gives Britain a free ride

New research suggests Britain and other European countries that have not adopted the euro have nevertheless benefited from it nearly as much as insiders, without giving up policy autonomy

Interview: Kenneth Rogoff

In this wide-ranging interview, the former chief economist of the IMF discusses the likely fallout from the unsustainable US deficits, the dollar's hegemony, the Fund's failings, the weak spots in the global economy and the future of central banks.

Reinventing euro-area central banks

Central banks of the euro area have the challenge of redefining their national roles. Maxwell Watson suggests approaches that build on their existing authority and expertise.

Interview: Malcolm Knight

Malcolm Knight, the new head of the Bank for International Settlements, calls for much deeper understanding of the way globalised financial markets actually function. As a global institution, the BIS is well placed to supply such analysis and to draw the…

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