Europe
Canada’s Carney points to some optimism from global outlook
Bank of Canada governor Mark Carney says there are significant growth opportunities for Canada despite deterioration in global economic outlook
Video: BoJ’s Hiromi Yamaoka on the failure of global rulemakers to learn from Japan’s ‘lost decade’
Hiromi Yamaoka speaks about new recovery and resolution plans, the strength of the Japanese banking system and why he’s not worried about spiralling government debt
IMF concern over ‘critical juncture’ of programme in Greece
IMF rejects criticism of economic programme to date; highlights areas that need attention to ensure recovery
Greece tranche decision delayed till October: Juncker
Eurogroup chairman Jean-Claude Juncker says decision to release sixth bailout tranche to Greece will be delayed until October; sovereign may default sooner than expected, says analyst
CNB’s Hampl: debt reduction is only solution to sovereign crisis
Czech National Bank vice-governor Mojmír Hampl, says some form of debt reduction is needed to resolve the European sovereign debt crisis
Global financial linkages amplified US shocks: IMF paper
Fund study says close financial and trade links between Europe and US magnified effects of US housing market bubble
Lagarde calls for urgent action
Lagarde sets out plans for Europe, the US and on a global scale to support 'fragile' recovery
Interview: Robert Mundell
The Nobel laureate explains what is needed to save Europe’s single currency and calls for greater global coordination of monetary policies, in conversation with Robert Pringle
Sovereign concerns set back RBA rate hike
Minutes of Reserve Bank of Australia monetary policy meeting show policy board did not hike rates due to mounting concerns over effects from international sovereign debt on demand
Robert Mundell: How to save the euro
Nobel laureate Robert Mundell says eurozone can be saved with three-pronged policy solution, ‘for the short run, intermediate run and long run’
Australia’s economic performance not all down to luck: RBA’s Edey
Reserve Bank of Australia assistant governor Malcolm Edey says good luck and good management played a role in Australia’s strong economic performance in recent years
BIS report highlights steps to curb sovereign debt risks
Basel working group outlines measures central banks can introduce to mitigate the risks associated with sovereign debt
Deficits are not always bad: RBA’s Debelle
Reserve Bank of Australia assistant governor of financial markets Guy Debelle says current account deficits are not always bad and do not necessarily equate to an imbalance
Chile governor warns on Europe and US
Central Bank of Chile governor says Europe in “trouble” and US at risk of waking up from “lethargy” too slowly
Barroso confirms European finance ministers agree to EFSF fund rise
European Council set to meet in Brussels to discuss economic policy change and the Greek crisis; Barroso reveals finance ministers agree to raise European Financial Stability Facility fund
Noyer expects euro area growth to weaken
Banque de France governor Christian Noyer says euro area growth may slow in coming quarter due to scars left on economies from crisis
FDI boosts external balances: IMF paper
IMF study shows central eastern and southeastern Europe region benefited from large foreign direct investment pre-crisis
Credit rating agencies slam sovereign warning proposal
EU Commission proposal for credit rating agencies to give sovereigns three days’ notice of a rating change causes “grave concerns”
Council of the EU recommends Mario Draghi for ECB presidency
The Council of the European Union recommends the nomination of Mario Draghi as president of the European Central Bank
Eurostat continues to deny knowledge of Greece-Goldman swaps
Statistics body insists it only found out about the controversial cross-currency swaps between Greece and Goldman Sachs in 2010
IMF makes strong call for strengthened policy response in Europe
International Monetary Fund wants stronger financial integration to bolster Europe’s recovery; comes as officials gather in Greece to see progress
BIS paper highlights change in bank-lending channel
Bank for International Settlements study shows shift in drivers of bank-lending channel in European and United States pre-crisis
Finland’s Hakkarainen spots growth divergence in Europe
Bank of Finland deputy governor Pentti Hakkarainen warns of growth imbalances forming within Europe
Financial Stability Board publishes survey responses
Comprehensive survey answers reveal FSB member countries’ plans to conform with the G-20’s recommendations for strengthening financial stability