Europe
Britain would be mad to join the euro
ARTICLE - Britain's European policies rest on two misapprehensions. Taken together, they lead us into all kinds of danger, yet still we do not abandon them. Perhaps the parlous state of Europe may open even our apologetic eyes and change the way we…
Duisenberg should stop suffocating Europe
ARTICLE - In the autumn of 1998, amid the storm of the Asian crisis, Europe's central bankers referred to Europe as an "island of stability". They were roundly criticised by their US friends who felt that the world economy was enduring its worst…
Europe's best defence against deflation
ARTICLE - Many people are worried about deflation. Severe deflation, as in the early 1930s, is catastrophic; mild deflation, as in Japan today, could become self-reinforcing. There are, moreover, similarities between early 1990s Japan and parts of Europe…
Federal Reserve Board Discussion Paper
RESEARCH - 'Monetary Union, Price Level Convergence, and Inflation: How Close is Europe to the United States?' by John H. Rogers, published 21 October. In the article the author examines the decline in European price level dispersion and whether this…
EU's Prodi calls deficit reduction accord 'stupid'
FRANCE - European Commission President Romano Prodi called Europe's budget-deficit limits "stupid" and "rigid," sowing fresh divisions over how to save the European economy from recession.
CSME no further behind than other trading blocs
BARBADOS - Prime Minister of Barbados Owen Arthur, in delivering the feature address at the opening of the Implementation Unit at the Central Bank on Monday, said CARICOM's Single Market and Economy (CSME) was now at the same point as Europe in 1985 when…
How fiscal and monetary policy stifle the eurozone
ARTICLE - For Wim Duisenberg yesterday (10 October), attack was the best form of defence. Explaining the European Central Bank's decision to leave interest rates unchanged at 3.25 per cent, despite the dark clouds gathering over Europe's economy and…
Duisenberg on the integration of financial markets
SPEECH - In a speech titled 'The integration of Europe's financial markets' Duisenberg said that after the successful introduction of the euro progress in financial integration took place with the safe establishment of the unified unsecured money market…
Duisenberg urges reforms
EUROPE - Wim Duisenberg, head of the European Central Bank, on Tuesday said a lack of confidence in markets and uncertainty are the bigger problems for the European economy rather than the ECB's oft-criticized hold on interest rates.
IMF's Kohler calls for ECB rate cut
EUROPE - International Monetary Fund Managing Director Horst Koehler said the European Central Bank should cut interest rates soon to help boost the economy.Koehler said he believes a drop in rates would stimulate growth, adding that central bankers must…
Duisenberg rules out imminent interest rate cut
EUROPE - The president of the European Central Bank, Mr Wim Duisenberg, has ruled out any imminent cut in interest rates to accelerate economic growth across the euro zone.
European Central Bank Publication
PUBLICATION - The European Central Bank has published it's euro banknotes and coins, brochure, August 2002.
The Euro 50 Group Roundtable: Monetary implications of accession
Hanna Gronkiewicz-Waltz discusses challenges to monetary policy that central banks in candidate countries will face. Governments should be wary of too early an entry.
The Euro 50 Group Roundtable: The monetary dimension of European enlargement
Introduction by Edmond Alphandéry, former French finance minister and chairman of the Euro 50 group1.
Why Britain should not join the euro
Janet Bush rejects the economic benefits of monetary union and argues that there is insurmountable opposition to the necessary complementary institution, a European government.
The price of a common currency
ARTICLE - Europe would soon regret any relaxation of the stability pact, argues Horst Siebert in the Financial Times, Tuesday.
Gold rises as dollar slips back
UK - Gold shone on Friday morning in Europe as the dollar slipped against other currencies and producer selling seen earlier this week eased off, leaving prices with a chance to head up, traders said.
ECB Working Paper No. 155
RESEARCH - ECB Working Paper 'Youth unemployment in the OECD: demographic shifts, labour market institutions, and macroeconomic shocks' by Juan F. Jimeno and Diego Rodriguez-Palenzuela, June 2002. It gauges the relevance of the relative size of…
Euro goes to court over trade mark dispute
EUROPE - The European Commission will be forced to defend the design of the euro symbol in court today less than six months after the introduction of the single currency. The emblem has become the subject of a trademark battle with Thomas Cook and…
Eurozone inflation falls within ECB target of 2%
BELGIUM - Inflation in the euro zone slowed sharply to 2% in May, Eurostat confirmed on Tuesday. The drop put inflation within the upper limit of the European Central Bank's inflation target of 2%.
Speech Wim Duisenberg, ECB president, 13 June
SPEECH - In a speech on 'The euro as a catalyst for integration and competition in EMU', Wim Duisenberg talks about the link between European integration and the euro, explaining the need for further structural reforms and their importance for the smooth…
Eurozone inflation falls but M3 grows
GERMANY - A marked drop in euro zone inflation in May strengthened beliefs that the ECB will hold fire on interest rates, although its key money gauge M3 moved further away from its benchmark of 4.5%, growing to 7.5% from 7.3% in March.
Swedish central bank governor resigns
SWEDEN - Sweden's central bank governor said Tuesday he will resign at the end of the year, two years before his term expires, as the Scandinavian country considers adopting Europe's common currency.
Europeans aim for joint rate rises
UK - Europe's central banks are set to raise interest rates simultaneously on 6 June, say leading economists. The Bank of England, the European Central Bank and the Swedish Riksbank are likely to hike rates at their respective policy-making meetings in…