European Central Bank (ECB)
Monetary policy and financial stability intrinsically linked: ECB’s Praet
European Central Bank executive board member Peter Praet, says central banks must lean against, rather than clean-up, imbalances under new financial stability paradigm
Lorenzo Bini Smaghi to leave the ECB
Lorenzo Bini Smaghi will join Harvard University’s Center for International Affairs in January; ends term at ECB more than a year early
Stark demands financial sector refocus
European Central Bank executive board member Jürgen Stark says financial sector became too “self-referential” in recent decades and must refocus activities on banking services
Italy reaches crisis point as bond yields soar
Announcement that Italian prime minister Silvio Berlusconi will resign does little to calm markets; bond yields hit euro area record high, raising the stakes for a potential default
Undercapitalisation of banks raised financial distress during crisis: ECB paper
European Central Bank study shows that size, capitalisation of banks and degree of credit expansion contributed to stress in banking sector during the crisis
Papademos flies to Athens as Greece decides on new leader
Former European Central Bank vice-president Lucas Papademos rushes to Athens as Greek officials discuss leadership choice for new coalition government
ECB’s González-Páramo calls for more stringent EU fiscal policy
European Central Bank executive board member José Manuel González-Páramo urges eurozone governments to conduct fiscal policy with clear medium-term objectives
IMF to supervise Italy on debt reduction plan
Italian prime minister Silvio Berlusconi agrees to invite International Monetary Fund to Rome to oversee its fiscal consolidation efforts but turns down option for financial support
Draghi announces rate cut amid fears of mild recession
European Central Bank president Mario Draghi marks inaugural Governing Council press conference with 25 basis point rate cut; ECB reveals details of covered bond scheme
Religion and culture influence economic preferences: ECB paper
European Central Bank attempts to address long-standing debate between sociologists Karl Marx and Max Weber on causal effect between religion and the economy
Central bank communication crucial to formation of market expectations: ECB paper
European Central Bank paper shows effective use of communication on policy choices has important impact on market expectations
Trichet says China funding request is right thing to do
Outgoing ECB president denies it is embarrassing or humbling for Europe to have to ask other countries for financial support; insists it is "absolutely normal" in today’s global world
ECB paper highlights renminbi’s prominence in Asia
European Central Bank study says China’s growing dominance in Asia is key driver of currency movements in region
Stark to remain on ECB executive board until January
Jürgen Stark agrees to stay on at the European Central Bank until Jörg Asmussen’s term begins in January 2012
Visco confirmed as Bank of Italy governor
Bank of Italy’s Ignazio Visco promoted to governor following confirmation by Italian president Giorgio Napolitano
Draghi open to further bond purchases
Bank of Italy governor Mario Draghi says tools for immediate implementation of unconventional measures are necessary for crisis management
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Vatican calls for global central bank
Vatican social policy experts say global leaders should establish global central bank to address problems in international monetary system; says IMF failed to stabilise financial system
ECB announces new T2S start date
European Central Bank announces T2S project to launch in June 2015; key changes demanded by Advisory Group behind delays
Italy’s Visco wins governor nomination in surprise twist
Italian prime minister takes unexpected step by naming Bank of Italy deputy director-general Ignazio Visco as governor ahead of three frontrunners
Bini Smaghi in line for top Italian central bank job
European Central Bank executive board member Lorenzo Bini Smaghi is expected to be selected as the next governor of the Bank of Italy
Trichet calls for EU executive branch in farewell address
Outgoing president uses farewell speech to express personal opinion on the need for an EU executive branch; body would have powers in three key areas
Eurobonds not the solution for sovereign debt crisis: ECB’s Stark
European Central Bank executive board member Jürgen Stark says reforms to eurozone fiscal governance should come before introduction of common bond