Europe

ECB decides not to issue €1 or €2 banknotes

The Governing Council of the ECB decided not to introduce very low denomination euro banknotes. In a press release Thursday 18 November it concluded that the negative aspects of introducing very low denomination banknotes outweigh the positive aspects.

Unified accounting rules adopted by EU

The European Commission said it has adopted a regulation unifying accounting rules across the EU from January 2005, with the exception of two disputed provisions, BizWorld reported on Thursday 18 November.

Gonzalez-Paramo on fiscal & monetary policy in EMU

In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…

EU finance ministers voice concerns

Eurozone finance ministers, meeting in Brussels on Monday night, 16 November, avoided pressuring the ECB over interest rates or intervention to stabilize the euro, but did voice their concerns over the euro's strength against the dollar

ECB mourns death of Eugenio Domingo Solans

Former member of the Executive Board of the European Central Bank Eugenio Domingo Solans died earlier this week after a long illness. In a message from the President on behalf of the ECB, Jean-Claude Trichet said the ECB was mourning a very dear…

ECB's Papademos on the euro: five years on

In a speech on 'The euro: five years on - Implications for Asia' given on 12 November, Lucas Papademos of the ECB said five years after its introduction, the euro is a solid, stable currency in which the markets and the public have confidence.

ECB Monthly Bulletin, November 2004

The European Central Bank published its November 2004 Monthly Bulletin on Thursday 11 November, saying in its regular quarterly 'Survey of Professional Forecasters', that the experts had revised downward their growth forecast for 2005 to 2% from 2.1%…

Trichet on the ECB's use of statistics

In a speech on 'The ECB's use of statistics and other information for monetary policy' given on 11 November, Jean-Claude Trichet of the ECB said the ECB has to avoid overreacting to short-term movements in economic data.

ECB's Papademos on the economic outlook

In a speech on 'The economic outlook and the ECB's monetary policy: some key issues' given on 11 November, Lucas Papademos of the ECB said higher oil prices are having a noticeable affect on inflation in the euro zone countries and growth will be hurt if…

Italy suggests joint action to stabilise euro

Domenico Siniscalco, Italy's economy minister, was quoted by several news agencies on Wednesday 10 November as saying of the euro that "a co-ordinated intervention is being talked about again, not a unilateral intervention. That would not help."

EU backs ECB warning on euro

The European Union's head office on Tuesday 9 November appeared to agree with comments by the European Central Bank president, warning that "excessive volatility" of the euro's exchange rate against the US dollar could damage economic growth in Europe.

Trichet says euro's record rise 'not welcome'

Economic growth "remains very steady," European Central Bank President Jean-Claude Trichet said at a briefing after a meeting in Basel, Switzerland, of the G-10 group, which he chairs. "Perhaps we're going to a level that's more sustainable in the medium…

Padoa-Schioppa on European financial institutions

In a speech 'How to deal with emerging pan-European financial institutions?' given on 3 November, Tommaso Padoa-Schioppa of the ECB said the regulatory and supervisory framework that is now in place can meet the challenges. The condition, however, is…

ECB paper on transmission of monetary policy

This ECB Working Paper examines possible explanations for observed differences in the transmission of euro area monetary policy in central bank large-scale macroeconomic models. It finds that, against most yardsticks, the cross-country variations in the…

ECB press conference with questions and answers

At the ECB's post-meeting press conference on Thursday 4 November, after eurozone interest rates were held unchanged, Jean-Claude Trichet gave a tougher warning about the immediate inflationary dangers ahead, calling a recent jump in consumer prices a …

Trichet's concluding remarks to ECB conference

In concluding remarks to the Third ECB Central Bank conference on 22 October Jean-Claude Trichet of the ECB said that a stable macroeconomic environment and progress in structural and fiscal reforms are essential to take full advantage of the benefits of…

Issing on EU enlargement and monetary integration

In a speech on 'EU enlargement and monetary integration' given on 22 October, Otmar Issing of the ECB said that the 10 countries that joined European Union in May should not rush to join the euro or the European Exchange Rate Mechanism II until they were…

Issues paper for ECB conference on 10 Nov

In preparation for an internal conference on e-payments, the ECB has produced an issues paper entitled "E-payments without frontiers". The paper covers observations on innovation in retail payments, challenges to be faced before a mature and integrated…

Trichet: EU Enlargement challenges & opportunities

In a speech on 'EU Enlargement: challenges and opportunities' given on 27 October, Jean-Claude Trichet of the ECB said the eurozone economy was likely to continue growing at its current pace, but noted that high oil prices could dampen the speed of the…

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