Euro
The euro as an invoice currency
A new ECB working paper investigates the determinants of currency invoicing in international trade.
How the euro gives Britain a free ride
New research suggests Britain and other European countries that have not adopted the euro have nevertheless benefited from it nearly as much as insiders, without giving up policy autonomy
Lithuania sets sights on eurozone entry in 2009
The Lithuanian government has said that it will pass a euro adoption plan this Autumn, according to a local press report.
Slovakia pledges 2009 for euro adoption
In an interview with the Financial Times, Slovakia's finance minister Jan Pociatek said, "It is my personal responsibility to follow the euro commitment," allaying fears that the new leftist government might delay the adoption of the single currency.
New York Fed's Foreign Exchange Operations Report
According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for April-June 2006, published 3 August, the U.S. monetary authorities did not intervene in the foreign exchange markets during…
Counterfeiters finally crack the Euro note
According to this article published on The New Zealand Herald's website on Wednesday 2 August, the amount of counterfeit currency discovered in the 12 euroland countries is now running at 600,000 notes a year - roughly the same as before the single…
Jarai sees euro entry hopes unlucky before 2013
Hungary's central bank (NBH) governor Zsigmond Jarai said on Tuesday 1 August that Hungary's economy was not on the right track and that it has become questionable whether euro adoption could be possible even in 2013.
Cross-border bank contagion in Europe
This European Central Bank Working Paper, published 27 July, analyses cross-border contagion in a sample of European banks from January 1994 to January 2003.
Fiscal convergence before entering the EMU
This European Central Bank Working Paper, published 27 July, addresses the question of whether a reduction of public deficits, such as imposed by the Maastricht fiscal criteria, is a necessary or useful step on the road to the adoption of the euro.
Cen bank reserve shifts not all that meets the eye
This article published Thursday 27 July by Reuters says a close look at IMF reserve data, and the dollar's moves in recent years, suggests central banks may not be undertaking conventional reserve diversification.
Comment: Scorecard for the euro
When the single European currency was launched, its expected boost to trade was one of, if not the main, benefits promised. Two recent studies question whether this promise has been met.
Lithuania's new PM pencils in euro for 2009-2010
Lithuania's new Prime Minister, Gediminas Kirkilas, said the country is unlikely to join the euro zone before 2009, BNS reported citing the Delfi news portal.
Comment: More pounds in their pockets
According to the most recent IMF data on reserve holdings, the pound sterling has surpassed the yen as the third most popular reserve currency. A number of factors could see the pound's popularity increase further.
UAE says reserves shift not political
In an interview with the Financial Times, the United Arab Emirates' central bank governor confirmed a strategic decision had been taken to move 10 per cent of its $29bn foreign exchange reserves into euros.
Slovenian euro coin production begins
EU finance ministers on Tuesday 11 July gave Slovenia a final formal go-ahead for the country's entry to the eurozone as of January 2007.
International Journal of Central Banking, Jun 06
The June 2006 issue of the International Journal of Central Banking was published on Friday 30 June. The latest edition contains six articles including "Global bond portfolios and EMU".
Trichet on further integrating euro area economies
In the speech 'Further integrating euro area economies: some reflections' given on 29 June Jean-Claude Trichet of the ECB said the economic and financial environment is changing and euro area countries are becoming progressively more interdependent.
IMF paper on the euro's challenge to the dollar
The IMF Working Paper "The euro's challenge to the dollar: Different views from economists and evidence from COFER (Currency composition of Foreign Exchange Reserves) and other data" examines opposing views on the euro's challenge to the dollar as an…
Euro membership not good for all, study says
According to this article published Monday 26 June, a new report from the CEPR claims Britain and other European economies have little to gain from adopting the euro now.
IMF paper on impacts of non-adoption of the euro
The IMF Working Paper "Price impacts of non-adoption of the euro for small European countries" uses the Sjaastad model to analyze the price-making power of major currencies with regard to the prices of traded goods in small countries that have not…
Paper on European monetary policy
The paper "Is European monetary policy appropriate for the EMU member countries? A counterfactual analysis" analyses whether interest rate paths in the EMU member countries would have been different if the previous national central banks had not handed…
EU confirms Slovenia's 2007 euro entry
EU leaders ended their spring summit Friday 16 June by welcoming Slovenia as the 13th member of the euro single currency.
Weber: Rate moves not subject to FX considerations
Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.
IMF says Persian Gulf should consider peg
Persian Gulf countries preparing to establish a single currency should consider pegging to the euro as well as the dollar, according to the International Monetary Fund.