European Central Bank (ECB)
EU endorses Trichet as next ECB president
EU leaders have unanimously backed the appointment process of Bank of France Governor Jean-Claude Trichet as the next president of the ECB, according to EurActiv. Luxembourg Prime Minister Jean-Claude Juncker told reporters. "Jean-Claude Trichet will be…
Hooray for Trichet!
So the Paris courts have once and for all cleared Banque de France governor Jean-Claude Trichet and his predecessor Jacques de Larosiere from the unfounded allegations that had been made about their role in the Credit Lyonnais affair more than 10 years…
EU to keep Duisenberg at ECB until October
Wim Duisenberg will remain in his post until October, the Greek Prime Minister Costas Simitis has said according to Bloomberg News. Trichet got the backing on Thursday 19 June of leaders of Germany, Italy, Luxembourg and Portugal, as well as Greece's…
Prosecutor won't appeal Trichet decision
The public prosecutor's office in Paris has said it will not appeal the decision to acquit Jean-Claude Trichet on charges of false accounting., according to a report by BizWorld.
Gretta takes medical delegation to Palestine
Gretta Duisenberg, wife of the President of the European Central Bank, has accompanied a medical delegation to Palestine consisting of five physicians from the Netherlands and Belgiu, according to a report by the Palestine Chronicle.
ECB public consultation announced
The European Central Bank has announced a public consultation aimed at improving the collateral framework of the eurosystem, 11 June.
Duisenberg on the first lustrum of the ECB
In a speech on 'The first lustrum of the ECB' Wim Duisenberg of the European Central Bank said the Convention on the Future of Europe has not taken over our suggestion to incorporate somewhere in the text the notion of Eurosystem, which stands for the…
Trichet acquitted in court, keeping ECB bid alive
The long running court case involving charges of falsifying accounts against Bank of France Governor Jean-Claude Trichet concluded on on Wednesday 18 June with his acquittal in a Paris court, Bloomberg reports. The verdict is likely to clear the way for…
ECB's Issing not worried by euro rise - Report
Rather than being overvalued the euro is, in European Central Bank chief economist Otmar Issing's view, "above all" a correction of its previous undervaluation, he told Der Spiegel magazine.
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg soldiers on
No central bank takes kindly to politicians tampering with their business, and the ECB is no exception. In advance of its long-awaited rate cut this week, the ECB was told by Belgian finance minister Didier Reynders to be more active: "It is about time…
Duisenberg on key issues in payment systems
In a speech on 'Key issues for the ECB in the field of payment systems' Wim Duisneberg of the European Central Bank said the euro area would greatly benefit from an integration and consolidation of its securities clearing and settlement infrastructure…
Bundesbank dampens rate cut speculation
Bundesbank chief Ernst Welteke poured cold water on further ECB rate cut talk on Monday 16 June, according to AFP, suggesting it was now up to governments and politicians to get their economies in order.
Duisenberg testimony to European Parliament
In testimony before the Committee on Economic and Monetary Affairs of the European Parliament Wim Duisenberg of the European Central Bank said that despite the rise of the euro in the last year, the exchange rate of the European currency accurately…
ECB's Welteke says global growth conditions good
Ernst Welteke said on Friday 13 June thatmacroeconomic conditions are favourable to growth all over the world but enterprises must have confidence to sell their goods, according to a report by Reuters.
ECB criticised by eurozone national central banks
The European Central bank faces criticism for trying to push through proposals without sufficient consultation, according to a Handelsblatt report. The report said proposals presented to the ECB's 18-member governing council increasingly contain details…
ECB's Tumpel-Gugerell sees no deflation risk
The ECB's newest council member Gertrude Tumpel-Gugerell has said she sees neither symptoms of deflation nor the risk of deflation, reports Frankfurther Allgemeine Zeitung.
Duisenberg on structural reform and mon policy
In a speech on 'Structural reform and its implications for monetary policy' Wim Duisenberg of the European Central Bank said labour market reforms are urgently needed if euro zone economic growth is to recover strongly as some countries are hampered by…
UK 'should join euro' when economics are right
The UK chancellor Gordon Brown confirmed on Monday 9 June that only one of the five economic tests had been passed for Britain's entry to the euro. He also set out measures that would increase economic convergence between the UK and eurozone saying he…
Danish central bank cuts rates to 2.15%
The Danish central bank has again mirrored the ECB's half point rate cut yesterday by also cutting rates half a percent to 2.15%, according to a Bloomberg report. This is its lowest level in almost two centuries.
Euro rises as ECB cuts rates by 0.5%
Slowing inflation has prompted the ECB to at last cut rates by half a percentage point to 2%, after persistent pressure from the markets, Bloomberg reports. The immediate consequence was a rise in the euro.
Transformation of the European Financial System
Based on an ECB conference held in October, "Transformation of the European Financial System" examines how the switch to the euro has affected European financial markets.
Eurozone inflation drops to 1.9%
Inflation in the Eurozone fell below the ECB's 2 per cent target for only the second time last month according to Eurostat, the Associated Press reports.
Issing on efficiency in financial institutions
In a speech on 'Efficiency in financial institutions' Otmar Issing of the ECB said sound central banking, but also banking in general and the business of savings banks in particular, must be based on long-term objectives. In this context, the monetary…