Euro
Estonia delays euro entry
The Bank of Estonia has said that Estonia would not meet EU criteria for eurozone accession in the years 2008-2009 and thus would not be able to adopt the common currency in 2010.
Trichet answers back on inflation and jobs
Jean-Claude Trichet responded to criticisms that the euro hampers employment in an interview published 11 August.
Intervention fails to stem equities sell-off
The wide-scale intervention by central banks around the world on Thursday and Friday reduced spreads in domestic money markets, but failed to stop the declines in global stock markets.
Fed looks to stabilise economy with rate hold
Against a backdrop of mounting concern over the health of the American economy, the Federal Reserve decided to leave its federal funds rate at 5.25% yesterday.
Strengthening the economic leg of EMU
Klaus Regling looks at how economic-policy governance might evolve in the euro area
Towards better economic governance
It is high time Europe faced up to the realities of its economic governance gap, says Joachim Bitterlich
The evolution of Europe’s exchange rate regime
The euro area should develop procedures for reaching common positions on international economic-policy issues, argues Lorenzo Bini Smaghi
Living with a strong euro
Europe’s policymakers should be proud of a strong single currency, and actively promote its international role, says Angel Ubide
The euro’s prospects as an international currency
Jacques de Larosière looks at how the euro may develop as a reserve currency
IMF on euro area policies
A report by the International Monetary Fund on euro area policies, released on 31 July, said that the outlook for the region was the best in years, but stabilising inflation below 2% may imply further gradual tightening of monetary policy.
Mixed message from Bernanke
Testimony today from Ben Bernanke, the chairman of the Federal Reserve, before the House of Representatives Committee on Financial Services gave a somewhat mixed message as he predicted that while he expects economic growth to pick up slightly next year…
Hungary's Simor questions Maastricht criteria
Andras Simor, the president of Hungary's central bank, told reporters in Bucharest on 17 July that the Maastricht criteria for the adoption of the euro "might not be as appropriate for emerging countries as for the more developed ones."
Sarkozy tones down ECB rhetoric
French president, Nicolas Sarkozy, appears to have relented to pressure from other European leaders over his repeated criticism of the European Central Bank (ECB). The newly-elected leader said on 16 July that he supported the central bank's independence.
Latvia leaves rates on hold
The Bank of Latvia's Council voted to leave its refinancing rate unchanged at 6% noting that its anti-inflation plan was starting to take effect and there were the first signs of a stabilisation in the real estate market.
Papademos on euro adoption in Malta and Cyprus
In this speech, Lucas Papademos, the vice-president of the European Central Bank, discusses the adoption of the euro in Malta and Cyprus. The two island economies will adopt the euro on 1 January 2008.
Euro appreciation reflects strength, says Stark
Jurgen Stark, an executive board member of the European Central Bank (ECB), says the euro's recent appreciation to a record high against the dollar reflects the strength of the region's economy.
ECB's Smaghi: better communication on euro needed
"[The] euro area is fully equipped to manage its own currency ... [but] better discipline is required in the preparation of the euro area's position to ensure that a consistent message is sent to its partners," Lorenzo Bini Smaghi, member of the…
ECB independence not in question - Juncker
Jean-Claude Juncker, the president and minister of finance of Luxembourg, said on 27 June that the finance ministers of the eurozone do not question the independence of the ECB.
ECB on euro bonds and derivatives
The European Central Bank (ECB) has published a report on "The euro bonds and derivatives markets" on 26 June.
Bank of Israel leaves rates unchanged
The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.
ECB's Bini Smaghi on euro entry
In this speech ECB executive board member, Lorenzo Bini Smaghi, argues that there is "evidence that the euro may be setting in motion some endogenous process, moving the euro area progressively closer to the concept of an optimum currency area."
Slovakia's euro changeover plan
The earliest date for adoption of the euro will be January 1 2009, says the central bank report.
Polish governor on inflation, euro entry
Polish inflation is under control and the immediate outlook does not give the National Bank much cause for concern, the central bank's governor, Slawomir Skrzypek, said on 15 June.
German parliament approves Bundesbank board cuts
The upper house of the German parliament has approved legislation to allow two seats to be cut from the board of the Deutsche Bundesbank, the country's central bank.