Euro
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
Central banks find novel uses for old banknotes
Central Bank of Ireland makes old notes into artwork; National Bank of Hungary offers the decommissioned banknotes to charities to burn for heating purposes
SNB’s Jordan pledges to maintain Swiss franc’s currency floor
Swiss National Bank acting chairman, Thomas Jordan, preserves commitment of Sfr1.20 floor to euro; analysts expect the central bank to defend but not raise floor
Lithuanian central bank completes euro credit migration to Sepa
Bank of Lithuania says government institutions holding accounts with central bank will now be able to initiate and receive payments in euros through Sepa credit payments scheme
Estonian central bank finds public retaining kroons as memento
Bank of Estonia study finds 81% of respondents are holding on to some kroon cash; not using it for savings shows confidence in the euro, says head of cash and security department
Finland commemorates the end of the markka
New book describes the history of Finnish banknotes and museum exhibition displays competition entries for past currency design contests
ECB paper identifies substantial shift in invoicing patterns following euro adoption
European Central Bank study shows Norway's trading partners participating in the eurozone used their own currency more frequently than before the introduction of the euro
Euro counterfeit banknote figure creeps up
Number of known fake euro banknotes hit 310,000 during in the second half of 2011, up 5% on the first half of the year
Belgium’s Coene believes in commitment of eurozone countries
Governor of National Bank of Belgium says even if Greece were to leave single currency, other member states would draw together to "protect the system"
Commemorative euro coin launched
Eurozone countries issue new €2 coin to commemorate 10 years of the currency; few central banks announce the move
Swiss governor faces questions over wife’s currency trades
Kashya Hildebrand bought US dollars shortly before Switzerland imposed limit on franc to euro value; Swiss National Bank denies dodgy dealing by governor
ECB credibility is damaged, say CBP panellists
Fourth Central Banking ON AIR webinar sees heated discussion over the future of the eurozone; ECB has suffered damaged credibility but independence is unscathed, say panellists
Moody’s issues EU-wide credit warning
Credit rating agency says every EU sovereign rating under threat; warning given on same day OECD labels eurozone crisis “key risk to the world economy”
Greek central bank issues government with ultimatum
Bank of Greece tells newly formed government that unless structural reforms are implemented on schedule, Greece risks being thrown out of the eurozone
Sarb’s Marcus laments ‘new phase’ in eurozone crisis
Latest South African Reserve Bank Monetary Policy Review shows rising inflation and hesitant domestic economic recovery; governor Gill Marcus shares concerns as eurozone crisis rumbles on
Greek reversion to drachma easier than euro conversion, say analysts
If Greece were to leave the eurozone it would have to establish a new currency in record time; analysts explain how the process would be simpler today due to technological advances
SNB returns to profit with $19 billion gain
Swiss National Bank reports large profit for first three quarters of 2011 due to valuation gains in gold holdings and decline in foreign currency losses
Greek debt value halved after marathon EU discussions
New Europe crisis resolution deal brokered overnight in Belgium; EFSF extended, Greek debt cut, banks’ capital to rise and governance increased
Estonia sounds clear warning on Europe crisis contagion
Eesti Pank says strain is growing in Estonia as eurozone crisis spreads to other areas of the region; asks banks to pay close attention to capital levels
Central banks shy away from euro reserves
New data from the IMF’s currency reserves database suggests reserves accumulation has slowed during 2011 and the appetite to hold euro reserves has also waned, particularly in emerging markets
Finland announces markka conversion deadline
Finns have until February 29 to change markka banknotes and coins to euro; currency outstanding valued at $386 million
Eurozone crisis hit financially constrained firms hardest: IMF paper
Fund study says eurozone crisis caused greatest distress among firms with greater financial constraints and increased exposure to peripheral euro countries
ECB’s González-Páramo on convergence requirements to euro accession
European Central Bank executive board member José Manuel González-Páramo dicusses need for sustainable convergence to the euro in Bulgaria
Could the Swiss start a trend?
Robert Pringle discusses the Swiss National Bank's action to limit the exchange rate between the franc and the euro, and asks if others should, and will, follow