Euro
Study says euro could be top reserve by 2022
A paper published this week says the euro could replace the dollar as the world's dominant reserve currency within 20 years if Britain and other EU countries adopted the unit and the US currency continues to slide.
Pressure on Asia to shift reserves
Asian central banks may have to shift up to $500 billion in reserves from dollars to euros and yen or risk foregoing $28 billion a year in potential revenue, according to a report published by Goldman Sachs Group.
ECB sued over euro note security
A company that specialises in anti-counterfeiting technology filed a lawsuit against the European Central Bank on Monday 1 August claiming the euro common currency infringes on a patent issued in 1999.
Latvia calls for clarity on euro area entry date
The Latvian government wants to know for sure that the European Commission and the European Central Bank will permit the Baltic state to join the euro-area in 2008, provided that Latvia meets all Maastricht criteria, BNS reported.
IMF's Rato says no need for ECB rate cut yet
International Monetary Fund managing director Rodrigo Rato said in an interview that there is no reason for the European Central Bank to cut interest rates at the moment, but it should do so if euro zone growth weakens any further.
EU Finance Ministers try to bolster euro
European Union finance ministers on Tuesday 7 June attended a summit in Luxembourg and admitted the continuing fallout from the crisis surrounding the rejection of the EU's constitution had an economic impact.
Issing on the monetary pillar of the ECB
In the speech 'The monetary pillar of the ECB' given on 3 June Otmar Issing of the ECB said the ECB's monetary policy has been an undisputed success since the launch of the euro in 1999.
Italian minister suggests return to lira
An Italian government minister has suggested the country should consider bringing back the euro.
Ireland's Hurley on monetary and financial issues
In a speech on 'The monetary and financial environment in the euro area' given on 11 April, John Hurley of the Central Bank of Ireland said that recent data suggests the euro area's economy is unlikely to strengthen soon.
Cyprus, Malta, Latvia included in the ERM II
At request, the ministers of the euro area Member States of the European Union, the President of the ECB and the ministers and the central bank governors of Denmark, Estonia, Lithuania, Slovenia and the relevant central bank decided to include the Cyprus…
ECB's Tumpel-Gugerell on EU-China relations
In the speech 'The next dimension for EU-China relations' given on 19 April, Gertrude Tumpel-Gugerell of the ECB said Chinese action on foreign exchange is "crucial for the adjustment of global imbalance".
France's Noyer on the euro, a stabilizing factor
In a speech on 'The euro, a stabilizing factor at home and abroad' given on 21 March Christian Noyer of the Bank of France said that in contrast to the domestic role of a currency, which is strongly determined by institutions, the international role of a…
Russia increases euro weighting
The Russian central bank said on Monday 21 March that it had doubled the weighting of euros used to calculate the nominal exchange rate of the ruble from 10 per cent to 20 per cent at the expense of the dollar.
ECB's Noyer says euro not pressuring markets
Christian Noyer, governor of the Bank of France and member of the ECB's governing council, said at an international conference on Monday 21 March that the euro is not exerting any pressure on global financial markets in spite of its growing influence and…
EU's Almunia says Slovakia on track to adopt euro
EU Monetary Affairs Commissioner Joaquin Almunia said Thursday on a one-day visit to Slovakia that it was on target to meet its aim of adopting the euro single currency in 2009.
South Korea's central bank denies dollar sale plan
The Bank of Korea denied on Wednesday 23 February that it planned to offload its US dollar assets after media speculation it was about to do so sent the US currency falling.
Figures show counterfeit euro coins on the rise
Figures show that in 2004 there was a substantial rise in the number of fake euro coins removed from circulation, according to European Anti-fraud Office (OLAF).
Luxembourg's Juncker says ECB wrong on pact
Luxembourg finance minister Jean-Claude Juncker, speaking as the euro group's president for the next two years, said the European Central Bank is wrong to say that reforming the EU's fiscal rules would harm the euro.
Slovenia central bank sees euro criteria met in 06
Slovenia will meet the EU convergency criteria for countries that want to join the eurozone by the middle of 2006, according to the Bank of Slovenia.
Market remains fragemented: ECB-CFS study
According to a study published today, 20 December, by the European Central Bank and the Center for Financial Studies, integration of Europe's financial markets is still some way away.
Hungary's Jarai sceptical of 2010 euro accession
The president of the Hungarian central bank, Zsigmond Jarai, said on Thursday 25 November that a persistently high public deficit could ruin Hungary's chances of joining the eurozone by 2010.
Gonzalez-Paramo on fiscal & monetary policy in EMU
In a speech on 'Fiscal and monetary policy in EMU' given on 11 November, Jose Manuel Gonzalez-Paramo of the ECB said that unlike most central bankers around the world today, and throughout history, European central bankers' point of reference is no…
Greek deficits were under-reported
An investigation by Eurostat concluded on Monday 15 November that Greece had broken the three per cent of GDP deficit ceiling for membership of the Euro every year since 1997.
An economic government for Europe
This article is intended for readers who would like to know what kind of economic government Europe needs if the euro is to be put on a secure footing1.