Europe
ECB: Many years before euro can challenge dollar
A top European Central Bank policy-maker said on Friday 15 April that the process of acquiring an international role for a currency is extremely slow.
Trichet sees no cut in eurozone interest rates
European Central Bank president Jean-Claude Trichet has ruled out a cut in eurozone interest rates but suggested that the cost of borrowing was unlikely to rise either, saying inflation was under control.
ECB's Papademos on the euro and economic growth
In a speech on 'The euro and economic growth' given on 15 April, Lucas Papademos of the ECB said the structural impediments to the euro area's growth must be addressed by implementing appropriate structural measures. There are no alternative solutions…
IMF's Rato criticises EU rules
International Monetary Fund chief Rodrigo Rato attacked reforms of the eurozone's budget rules on Thursday 14 April saying the pact had "served Europe well".
ECB's Papademos sees inflation around 2 pct
European Central Bank vice-president Lucas Papademos said on Friday 15 April that eurozone inflation is expected to fluctuate around 2 pct in the short term, but upside risks remain.
ECB Monthly Bulletin, April 2005
The European Central Bank published its April 2005 Monthly Bulletin on Thursday 14 April, saying there are "no clear signs" that economic growth in the twelve nation euro zone is set to accelerate as record oil prices weigh on business conditions.
Fin mins concerned uneven growth may hinder ECB
Eurozone finance ministers are concerned that different growth rates among the 12 nations sharing the single currency could hamper European Central Bank policy making, a German government official told Reuters on Wednesday.
Trichet on integration in the enlarged Europe
In a speech on 'The challenges of economic and financial integration in the enlarged Europe' given on 9 April, Jean-Claude Trichet of the ECB said new European Union members should curb budget deficits not only to fulfil criteria needed to join the euro…
De-nationalizing the ECB's executive board
The European Central Bank's chief economist, Otmar Issing, is not scheduled to retire until May 2006. The only certainty about his successor at the moment is that he or she will be a German, according to this article. Current practice is blatantly unfair…
Interview with ECB's Papademos
In an interview published this week, European Central Bank vice-president Lucas Papademos said the weakening of the EU stability and growth pact's rules on cutting deficits would increase the chances of an ECB interest rate hike if it led to a weakening…
ECB reveals gold sales; no more planned before Sep
The European Central Bank has completed a programme of gold sales amounting to 47 tons of gold, it said on Thursday 31 March.
IMF paper on the Stability and Growth Pact
This IMF Working Paper, Implementing the Stability & Growth Pact, analyses some key policy trade-offs involved in the implementation of the Stability and Growth Pact. Greater "procedural" flexibility in the Pact's implementation may improve welfare, it…
The ECB faces a fiscal fight with its governments
There hasn't been much evidence of stability in the Stability and Growth Pact, according to this article, and now it isn't even a pact any more. Expect to see a damaging fight between the ECB and its member states, which the whole European economy will…
Trichet voices concern on fiscal rule changes
European Central Bank head Jean-Claude Trichet voiced concern on Thursday 23 March about reforms to the European Union's stability and growth pact agreed by EU leaders this week.
BoE's King: 'Coach and horses' driven through pact
Bank of England governor Mervyn King criticised European Union leaders for loosening the fiscal rules that underpin the value of the euro on Thursday 24 March, saying restrictions on government spending in the region lack "discipline."
ECB Working Paper on central bank transparency
The ECB Working Paper "Central bank transparency and private information in a dynamic macroeconomic model" published on 15 March, investigates the role of economic transparency within the framework of one of Townsend's models of 'forecasting the…
Juncker rejects central bank concerns on pact
EU leaders have formally endorsed reforms to the stability and growth pact. Luxembourg Prime Minister Jean-Claude Juncker, current President of the European Council and President of the Eurogroupe, said the agreement was cleared after a "brief debate".
ECB's Trichet on the success of the euro
In a speech given on 18 March Jean-Claude Trichet of the ECB stressed that the maintenance of price stability and financial integration are key successes of the Economic and Monetary Union as well as fundamentals conditions to enhance sustainable…
ECB statement on Stability and Growth Pact
The European Central Bank's Governing Council released a statement on Monday 21 March on the ECOFIN Council's report on Improving the implementation of the Stability and Growth Pact.
ECB's Noyer says euro not pressuring markets
Christian Noyer, governor of the Bank of France and member of the ECB's governing council, said at an international conference on Monday 21 March that the euro is not exerting any pressure on global financial markets in spite of its growing influence and…
Interview with ECB's Trichet
In an interview published on Wednesday 16 March, European Central Bank president Jean-Claude Trichet said the bank continues to see moderate economic growth in the eurozone during 2005, despite recent signs of "greater dynamism" in investments and…
ECB opinion on new Executive Board member
At a meeting on Friday 18 March, the Governing Council of the ECB adopted an opinion on a recommendation from the Council of the European Union on the appointment of a new member of the Executive Board of the ECB.
Stability pact showdown expected
A showdown may be in the offing regarding the EU's stability and growth pact. The EU summit in Brussels next week is expected to discuss reform of the 25-nation bloc's fiscal rules.
ECB book on statistics and economic policy-making
The European Central Bank published a book entitled "Statistics and their use for monetary and economic policy-making" on 11 March. The book contains the proceedings of the second ECB conference on statistics held in Frankfurt am Main on 22 and 23 April…