Neil Courtis ventures into the BIS in Basel and finds an institution in the process of redefining its role.
There is a fundamental clash of logics at the centre of the debate on accession. Despite legal considerations, different countries in different economic circumstances require a flexible approach, argues Charles Wyplosz.
Märten Ross, a deputy governor at the Bank of Estonia, considers alternative scenarios for joining the euro. After ten years’ experience of a currency board, Estonia is more than prepared to join.
György Szapáry assesses the credentials of candidate countries for joining economic and monetary union. Existing euro countries have nothing to fear and candidates everything to gain, he argues.
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.
Pedro Solbes, a member of the European Commission, discusses the performance of, and prospects for, the stability and growth pact.
Introduction by Edmond Alphandéry, former French finance minister and chairman of the Euro 50 group1.
Janet Bush rejects the economic benefits of monetary union and argues that there is insurmountable opposition to the necessary complementary institution, a European government.
Jannie Rossouw argues that inflation targetting alone is insufficient. Belief in the credibility of the inflation measure itself is essential for a successful policy.
How should central banks react to “irrational exuberance”? Central banks cannot burst what they cannot see, contends Allan Meltzer.
Jean-Jacques Rey welcomes Anne Krueger’s proposals for a sovereign debt restructuring mechanism. But is it a dead-end or promising avenue?
In January 2002 former IMF economist Mario Blejer became governor of the Banco Central de la Repœblica Argentina with the job of preventing Argentina from descending into financial anarchy. Two weeks after his resignation in late June he spoke to Central…
Milton Friedman assesses the monetarist legacy and the recent performance of central banks. In conversation with Robert Pringle, the Nobel laureate offers his advice for those thinking of joining the euro, or trying to deal with deflation.
The governor of the Bank of Canada, David Dodge, was in London to receive the award for the best central bank website for 2003.
Dramatic changes in international markets and the role of reserves demand a re-appraisal of reserve management. Terrence Keeley urges more openness and public debate about reserve management