Euro
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.
Latvia: Annual Report
While Latvia enjoyed rapid economic growth in 2006 - the highest in EU - this was tempered by signs of macroeconomic imbalance, the governor noted in the central bank's annual report.
Interview with Malta's Bonello
In a recent interview, the governor of Malta's central bank, Michael Bonello, sought to assuage fears that the changeover to the euro in 2008 would lead to price rises.
ECB lifts rates to 4%
The European Central Bank has raised its key interest rates by 25 basis points to 4%, taking rates in the eurozone to their highest level for six years. This latest increase means that interest rates have doubled in 18 months.
Syria to abandon dollar peg in July
The governor of Syria's central bank, Adib Mayelah, announced that the country will abandon the Syrian pound 's peg to the dollar in an effort to stem rising costs and inflation.
Holland's Wellink assesses eight years of EMU
Speaking at the Nieuwegein Business Center, Nout Wellink, the president of the Dutch central bank, took stock of the achievements of eight years of economic and monetary integration and set out what he saw as the challenges facing the eurozone.