Europe
Weidmann calls for dropping QE tools in normal conditions
Long-term ultra-loose policy may have shifted natural rate of unemployment – Bundesbank head
Cyber attacks could lead to financial crisis – Cœuré
Security must improve both at core and periphery of financial markets, senior ECB official says
IMF programmes do not harm governments’ financing ability – ECB paper
Governments use IMF as an excuse when “struggling with transparency”, authors argue
EU stress tests should follow US example – EBA chairman
Enria says EU process is too slow and opaque compared to US approach
ECB paper looks at large database on inflation expectations
Expectations more powerful when lower bound on nominal rates is binding, researchers find
ECB prepares to supervise largest Bulgarian banks
Move comes as Bulgarian government attempts to join single currency
People: Former Malawian governor dies
Mathews Chikaonda served as governor in the 1990s; new senior appointments made at the BIS; and more
The euro: a troubled third decade?
Italy’s pact-busting budget highlights ongoing eurozone frailties
Housing bottlenecks could boost eurozone inflation – ECB paper says
Labour shortage, scarcity of building land, and administrative hurdles could limit supply
EU offers Iran sanctions relief with new clearing house
Iran retains access to Swift network despite US sanctions, but new clearing house could provide permanent loophole
Three tricks to remove a troublesome Eurosystem governor
Eurozone authorities have learnt how to circumvent central bank independence – emboldened by feeble action by the European Commission
Immigrants smooth eurozone labour market shocks – Bank of Italy paper
Non-EU immigrants have higher mobility than Europeans moving between countries – researchers
ECB nominates Enria as next head of banking supervisor
Italian candidate likely to be accepted as next head of SSM
Eurozone may be close to potential growth – ECB paper
But all estimates of potential GDP should be treated with caution, researchers argue
UK banks struggle in EU-wide stress tests
Italian banks also suffer heavy losses in EBA’s most severe test conducted to date; BoE says UK faced tougher test than others
The EU tries to rethink its faltering AML regime
The European Union plans to centralise its anti-money laundering efforts following a series of scandals this year. Dan Hardie looks at the options available and the multitude of challenges that remain
Nouy says time is right for Europe-wide deposit insurance
Governments should “consider some solidarity”, ECB’s chief supervisor says
People: Macedonia appoints two female vice-governors
ECB brings statistics expert from Eurostat; RBNZ creates position of manager communications
Book notes: The bank that lived a little, by Philip Augar
History of British commercial bank Barclays fails to address key questions, writes Michael Taylor
Eurozone wage rigidity largely persisted in great recession – Finnish paper
Frequency of wage changes fell in recession in many countries, researchers find
Draghi confident Italy and European Commission will reach deal
ECB president says momentum is slowing but points to higher negotiated wage growth
Hurdles remain for euro as international reserve currency
Dollar’s incumbency, institutional deficiencies and rise of the renminbi hamper the euro’s progress
ECB’s normalisation could spell trouble for Italy’s bond market
Rome’s budget row with Brussels escalates just as QE is about to halt
Donnery and Enria in contention for top SSM job
Shortlist narrows after closed-door session at the European Parliament