Eurozone
IMF uneasy on nagging weakness of eurozone’s banks
Fund’s Global Financial Stability Report and World Economic Outlook updates show concern over insufficiency of eurozone stress tests, links between banking and sovereign risks
Estonia joins third central bank gold agreement
Bank of Estonia signs agreement limiting central bank gold sales to 400 tonnes a year up to August 2014; follows country’s entry to the eurozone
Gold could hit $1,600 in 2011, say analysts
Commentators say investor appetite for the precious metal will continue to soar as concerns over US economy, eurozone sovereign debt issues, persist
Portugal succeeds at auction but fails to sway analysts
Portugal sells $1.6 billion worth of government debt at auction, but commentators remain wary of fundamentals
Eurozone inflation climbs above 2%
First time since autumn 2008 that inflation has been above European Central Bank target
RBA minutes: rates on hold as global downside risks rise
Minutes of Reserve Bank of Australia rate-setting meeting relay concern over deteriorating situation in Europe; more positive on US, China
Fed extends temporary dollar swap lines
Dollar swap lines reopened with five central banks in May will remain in operation until August 2011, seven months past original date of expiry
Sama's Al-Jasser on the role of SMEs
Saudi Arabian Monetary Agency governor Muhammad Al-Jasser points to importance of small and medium enterprises; calls for care and development of sector
EFSF's Frankel: guarantees are "enough for the time being"
European leaders endorse EFSF model, as facility gears up for debut issuance of up to €5 billion
EU pledges to make bailout vehicle permanent
Meeting of European Union leaders concludes with a pledge to create permanent rescue fund for the eurozone
Denmark’s Bernstein cites fiscal, Basel III worries
National Bank of Denmark governor Nils Bernstein says Copenhagen must keep tight rein on debt; banks must resolve adjustable rate loan refinancing issues
QE2 hopes reflected in dollar, risk reversal trends: BIS
Bank for International Settlements’ December Quarterly Review charts effects of QE2 anticipation, eurozone sovereign debt woes, in fourth quarter
Italy’s Draghi: eurozone governments must step up
Bank of Italy governor Mario Draghi looks to eurozone governments to tackle fundamental issues; stresses ECB will not dabble in fiscal arena, echoing president Jean-Claude Trichet
ECB points to securitisation, interest rate risk concerns
European Central Bank’s December Financial Stability Review stresses importance of more transparency in asset-backed securities market; highlights interest rate risk worries
ECB repos, not bond purchases best fix for debt woes: Deutsche Bank note
Deutsche Bank paper moots the use of targeted long-term repurchases to shore up peripheral bond markets, rather than more outright purchases
CDSs did not hike eurozone states’ funding costs: European Commission report
European Commission taskforce finds credit default swaps were not responsible for inflating eurozone members’ funding costs, worsening crisis
Policy centralisation key to future of Eurozone, says Goldman’s O’Neill
Success or failure of the Eurozone hinges on Germany ‘laying down the law’, according to chairman of Goldman Sachs Asset Management.
Trichet to eurozone governments: take the lead on debt crisis
European Central Bank president Jean-Claude Trichet says debt crisis is within governments’ remit, hinting at support for extension of European Financial Stability Facility
ECB bucks market expectation with silence on further bond purchases
European Central Bank extends liquidity operations but does not commit to more bond purchases; move comes against market anticipation, dividing analysts
Portuguese banks’ reliance on ECB 'unsustainable', says central bank
Bank of Portugal Financial Stability Report says domestic lenders’ reliance on eurosystem funding has spiralled; sovereign’s declining prospects a key factor
Anglo restructuring deal to be sealed in January: Ireland’s Honohan
Central Bank of Ireland governor Patrick Honohan says Anglo restructuring proposal will be approved by end-January; Irish banks face capital, liquidity assessments
Markets, analysts unconvinced by Irish bailout
Officials welcome deal but euro, continental bourses drop in response to €85 billion rescue package for Ireland
Europe reveals new stability mechanism
Eurozone finance ministers outline European Stability Mechanism designed to offer financial assistance to troubled single currency states
The euro funding gap and its consequences
The crisis has highlighted that the euro is far from a true reserve currency. That has worrying implications, argue Annina Kaltenbrunner, Duncan Lindo, Juan Pablo Painceira and Alexis Stenfors