Europe
ECB's Tumpel-Gugerell on euro payments area
European Central Bank executive board member Gertrude Tumpel-Gugerell said foreign banks will take the leading role in restructuring the European banking sector if domestic banks move too slowly to create a single eurozone payments area.
Bank system stability: cross-Atlantic perspective
This ECB Working Paper derives indicators of the severity and structure of banking system risk from asymptotic interdependencies between banks' equity prices.
ECB's Mersch warns on inflation effect from oil
European Central Bank council member Yves Mersch said in an interview on Wednesday 28 September that oil prices at current levels risk boosting wages and feeding inflation.
The ECB: Villain, or a savior of Europe?
According to this article published on Saturday 24 September, the challenges facing the European Central Bank are particularly acute, with the ECB under fire for refusing to deviate from its inflation-fighting mandate in order to stoke growth through…
Interview with ECB president Jean-Claude Trichet
In an interview published on Wednesday 21 September, European Central Bank President Jean-Claude Trichet called for determined economic reforms from the next German government as well as other European nations.
Hurricanes may delay US current account correction
European Central Bank board member Lorenzo Bini Smaghi said in an interview that costs resulting from hurricanes in the Gulf of Mexico could mean that the US will be unable to correct its large current account deficit for some time.
Liebscher says property prices won't influence ECB
European Central Bank Governing Council member and Austrian Central Bank Governor Klaus Liebscher said in an interview that the ECB would not raise interest rates solely as a result of rising real estate prices in some eurozone countries.
EU calls for single payment area by 2010
Charlie McCreevy, the European Commissioner for the Internal Market and Services said on Tuesday 20 September that banks must create a single pan-EU system for payments by 2010, a demand the European Commission will underpin by legislation.
Central Europe: What's delaying the euro
Momentum in Central Europe to adopt the euro as soon as possible has diminished, this article reports. The big obstacle, it says, is budget deficits.
Uniform accounting rules face hurdles in Europe
This article published on Tuesday 13 September says that although the path to uniform and stricter global accounting rules is paved with good intentions, problems have arisen in Europe that could delay the adoption of parts of International Accounting…
IMF says ECB rate cut not necessary yet
The European Central Bank is following a "broadly appropriate" monetary policy, and has no reason to cut interest rates at present, the International Monetary Fund's most senior European official said on Tuesday 13 September.
ECB advice sought by Gulf Arab states
A senior official at the GCC said on Thursday 15 September that Gulf Arab states will seek help from the European Central Bank in establishing a monetary authority to oversee their planned single currency.
McCreevy says cross border clearing cost must fall
Charlie McCreevy, the European Union internal market commissioner, said on Tuesday 13 September action will be taken against Europe's financial services industry if it fails to slash the costs of cross- border trading in securities within six months.
Weber says ECB to weigh Katrina impact
The European Central Bank is watching the economic impact from Hurricane Katrina closely but it is too early to say how it might affect interest rate policy, ECB Governing Council member Axel Weber said in a speech.
News from SIBOS banking conference
Jean-Michel Godeffroy, director general of payment systems at the European Central Bank, was at the centre of several key debates at the SIBOS conference in Copenhagen on Wednesday 7 September.
ECB's Bini Smaghi rejects France's proposal
European Central Bank Executive Board member Lorenzo Bini Smaghi has rejected France's proposal for a dialogue between the ECB and eurozone states regarding economic policies in the region, according to an interview with Handelsblatt.
Trichet reports upside risks to inflation outlook
European Central Bank President Jean-Claude Trichet said Thursday 1 September that upside risks to price stability exist but there is no significant evidence of a build-up in underlying inflationary pressures.
Challenges for central banks in an enlarged EMU
A new book analyses the challenges that lie in front of the EU as it used to be, the hurdles that have to be cleared by possible candidates, and the impact of these developments on important economic sectors like the financial markets.
ECB Paper on hedge funds and financial stability
The ECB Paper "Hedge funds and their implications for financial stability", published on 26 August, provides an overview of the hedge fund industry, mainly from a financial stability and European angle.
Modest pay, one term 'best' for central bankers
A new study says that Europe's central bank chiefs should receive only modest pay and serve just a single term in office to avoid self interest creeping into interest rate decisions. It also found that limited terms and confidential interest rate…
Interview: Kenneth Clarke
In this interview Kenneth Clarke, Britain’s chancellor of the exchequer from 1993 to 1997, calls on the ECB to rethink its role and communications.
Time for the ECB to intervene
Charles Goodhart makes the case for Europe’s central bank to sell the euro.
Trichet at the memorial service for Wim Duisenberg
In a speech during the memorial service for Wim Duisenberg given on 6 August Jean-Claude Trichet of the ECB called Duisenberg a great European and friend.