Opinion
A turning point for Greece and the euro
The seeds of Greece’s financial crisis are also present in many other modern democracies, writes Herbert Grubel. Currency union offers a politically expedient way to prevent such crises
Robert Pringle’s Viewpoint: Managing without safe assets – tricky but not impossible
Unless sovereigns provide a credible backstop to the banking system the private sector will have to do the best it can, writes Robert Pringle
Opinion: The ECB should not hold back from eurozone bond purchases
There is no danger in the ECB buying large amounts of eurozone government bonds to bolster market confidence – so long as the right conditions are met – says Natixis chief economist Patrick Artus
Getting to grips with monetary policy?
Global co-operation on monetary policy remains out of reach
Robert Pringle's Viewpoint: Let the Fed lead
Implicit coordination of monetary policies under Fed leadership is better than none at all
Robert Pringle’s Viewpoint: Rebalancing the fraught relationship between governments and central banks
The growing politicisation of central banking involves central bankers needing to make difficult judgement calls on the areas that lie outside of their competence
Robert Pringle's Viewpoint: Watch what central bankers do, not what they say
Recent speeches by Ben Bernanke and Mark Carney signal a new phase in the development of central bank rhetoric. The big question is whether they preface a change in policy
The Eurosystem has done enough; time for politicians to choose
The Eurosystem has done enough to support the eurozone, says Jens Weidmann, who believes the euro area should either accept fiscal union or allow sovereigns to default
Communicating uncertainty in economic forecasts
The way central banks and economists communicate uncertainty in macroeconomic forecasts differs around the world. Charles Manski contrasts the approaches of the Federal Reserve and Bank of England
Robert Pringle's Viewpoint: King’s efforts to be heard hit some marks
In his calls for reform, Bank of England governor Mervyn King has ploughed a lonely furrow. But some of his efforts are paying off
Thatcher's stance on the ECB deserves re-appraisal
Former UK prime minister Margaret Thatcher feared an independent ECB ‘accountable to no one, least of all national parliaments'. Her concerns seem even more relevant today
Robert Pringle’s Viewpoint: Wider lessons of the Cyprus bail-out
The clumsy attempts to resolve a banking crisis in Cyprus underline the need to make more rapid progress on wider issues afflicting much larger financial markets in Europe
BoJ changes represent the death knell for central bank independence
The growing policy crisis caused by central banks taking on roles beyond price stability and lender of last resort is not down to 'independence' – as the BoJ case points out
The trade-off between bank regulation and economic growth
The pendulum has swung firmly in favour of financial services regulatory reform. But economic growth is likely to suffer – particularly in Europe – unless some of the rules are changed
Central banks need to be wary of ‘new’ monetary policy trends
Policy-makers are reappraising the role of independent central banks pursuing inflation targets. Bernd Braasch1 encourages them to use sound evidence to inform their judgements
Central bank independence: more myth than reality?
Crisis responses are placing a heavy burden on many central banks. But there is no evidence showing that legally independent central banks have a better track record in monetary policy
Robert Pringle’s Viewpoint: Assessing Masaaki Shirakawa’s legacy
The policies of outgoing Bank of Japan governor, Masaaki Shirakawa, have brought economic stability to Japan and are likely to be viewed favourably by future generations
Efta court's Icesave ruling leaves European deposit insurance in tatters
Efta court move to dismiss deposit insurance claims on Iceland is a ‘Pyrrhic victory’ that throws the participation of small countries in the single banking market into doubt, argues Tim Young
Robert Pringle’s Viewpoint: Cameron’s high-risk European gamble
British Prime Minister David Cameron's high-stakes bid to renegotiate the UK’s role within the EU has rankled some officials in Europe. But both sides would lose from a UK withdrawal
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
Legal traps facing the ECB
The European Central Bank is set to gain supervisory powers over the continent’s banks via the single supervisory mechanism. René Smits explains the practical issues linked with the banking union
ECB in danger of being forged from fiscal fragility
Mario Draghi has made his mark at the helm of the European Central Bank. But Europe also needs a core set of values that must not be violated
Systemic risk in Europe heightened by Target trap
Huge Target liabilities may explain why Germany sanctioned proposals for ECB bond-buying and the formation of the ESM. But this will not solve Europe’s problems