Europe
Central bank net gold sales fell 80% in 2009
Slowdown in European sales and India's purchase from IMF lead net sales to slump to 41 tonnes says research body
IMF stockpiles funds for crisis resolution
Fund prepares for the worst with $500 billion in extra funds from a standing borrowing arrangement with selected members
Trichet: fixing public finances precursor to price stability
Jean-Claude Trichet calls for member states to put public finances in order
Only the IMF can save Greece: Berlin
German government backs away from a European bailout for debt-ridden Greece, Fund rescue looks increasingly likely
RBA justifies March rate hike
Signs of revival in economic activity convinced board members to hike rates by a quarter point
Investment growth declines in Europe
Central Bank of Ireland research shows that while declines in investment growth is larger in US compared with the eurozone this year, it continues to lag behind the US overall
Greece not looking to bond markets for now: debt chief
Greece’s new head of public debt management says the country will not rush to tap sovereign debt markets; austerity package with extra cuts sends yields plummeting
Bulgaria relaxes capital adequacy rules
Bulgarian National Bank announces adoption of further countercyclical capital measures, reducing risk weights on retail and real estate exposures by 25 and 15 percentage points
Income convergence and inflation in central and eastern Europe
Bank of Estonia paper finds that income levels and inflation are correlated in the long term, but not in the short-term, with the process of convergence appearing to be slow
Cooperation key to EU stability: González-Páramo
European Central Bank’s José Manuel González-Páramo says EU institutions must share expertise and statistical information
Iceland’s Gudmundsson: EU legislation guilty
Central Bank of Iceland’s Már Gudmundsson says the risks in cross-border banking were underestimated
Leverage and productivity in emerging European economies
A Centre for Economic Policy Research paper published in December argues that while moderate leverage increases growth, excess leverage can dampen it
Sri Lanka doesn’t fear loss of EU privileges: CB chief
The country has coped with the loss of previous trade privileges, says central bank head
BoE’s Bailey: Europe to work on resolution regimes
Bank of England’s Andrew Bailey says missing piece in UK’s resolution regime is how to deal with cross-border banks
ECB’s Tumpel-Gugerell: rushing euro adoption no fix
European Central Bank’s Gertrude Tumpel-Gugerell says Central and Eastern European countries must fulfil Maastricht criteria to adopt euro
Tuma pulls out of EU race
Zdenek Tuma commits to Czech National Bank after political parties split on nomination
Sweden’s Nyberg calls for a “bolder agenda”
Lars Nyberg, a deputy governor of the Riksbank, calls for a common international approach to crisis management
Global regulatory reform not in sight: Kern Alexander
Kern Alexander says consensus on international regulatory reform is still far ahead
Brussels clears Rock break-up
Decision follows British government nationalisation in January 2008
De Larosière: don’t rush regulatory reform
Former governor of the Banque de France warns governments against rapid change for the finance industry
What makes up the macroprudential toolkit?
Practitioners and supervisors discuss how supervisory policy will be made
European Commission finalises regulatory fix
Commission unveils reform agenda, as proposed by De Larosière report
One credit register for Europe: Buba’s Zeitler
Bundesbank’s Franz-Christoph Zeitler says Europe needs a unified credit register
Shirakawa cites balance-sheet adjustment as key
Bank of Japan governor Masaaki Shirakawa says balance-sheet adjustments in US and Europe are becoming more important as risk of collapse abates