European Central Bank (ECB)
ECB Monthly Bulletin, November 2003
The European Central Bank published its November 2003 Monthly Bulletin on 13 November. This issue of the Monthly Bulletin contains three articles. The first reviews the main developments in the debt financing of the euro area private sector over recent…
Tumpel-Gugerell: Institutions in Financial System
In the speech 'The Role of Institutions in the Financial System' given on 11 November Gertrude Tumpel-Gugerell of the ECB said an integrated European supervisory framework enhances the ability to react quickly, effectively and more transparently to any…
ECB press conference with questions and answers
At his first press conference since taking over from Wim Duisenberg, Jean-Claude Trichet said on 6 November that the stability and growth pact provided "an appropriate framework" for ensuring fiscal discipline. He said the budget deficit limit of 3 per…
Trichet warns EU over budget deficits
Jean-Claude Trichet issued a stern warning on 6 November to both eurozone governments and the EU Commission in Brussels that meddling with the rules of the Stability and Growth Pact would put the overall credibility of monetary union and economic…
Trichet rings in new era at ECB with rates on hold
The ECB left its main refinancing rate steady at 2 percent at its 6 November meeting with Jean-Claude Trichet attending his first meeting as president of the euro-zone central bank, AFP reported.
ECB: No forced redundancies with IT restructuring
The ECB has responded to claims by the Union of the Staff of the European Central Bank that 40 or more staff could be made redundant by restructuring measures in the IT department. The Bank said in a statement, AFX reported, "If some functions are…
Tumpel-Gugerell: Welcoming the new Member States
In the speech 'Welcoming the new Member States' given on 3 November Gertrude Tumpel-Gugerell of the ECB said that the first few years of enlargement will be formative years for the European Union and for its Member States. By completing the accession…
Issing on monetary policy in uncharted territory
In the speech 'Monetary policy in uncharted territory' given on 3 November Otmar Issing of the ECB said theoretical insights and central banking experience are both fundamental components of good monetary policy making, but especially so at the time of…
European Central Bank has new chief
Jean-Claude Trichet began his Presidency of the European Central Bank with a congratulatory address at a commemorative ceremony marking the 75th anniversary of the Bank of Greece in Athens on Monday, reports United Press International.
ECB's Duisenberg speaks at special ECOFIN dinner
At a special ECOFIN dinner to pay tribute to his leadership on 29 October Wim Duisenberg of the ECB said the challenges for EMU over the next five years are every bit as great as those already faced. I am fortunate enough not to have to deal with them,…
Issing: Europe & the US - New paths for the future
In the speech 'Europe and the US: Partners and Competitors - New paths for the future' given on 28 October Otmar Issing of the ECB said we at the European Central Bank are very much aware of our responsibilities in a world characterised by close trade…
ECBs Tumpel-Gugerell: euro in cen & eastern Europe
In a speech on 'The euro in central and eastern Europe' given on 27 October, Gertrude Tumpel-Gugerell of the European Central Bank said integration into the monetary union represents a key step towards full economic integration within the EU and has the…
Finland proposes changes to ECB voting model
Finland has proposed a change to the ECB voting system that will be employed once the union expands next year, according to Helsingin Sanomat. The new system was agreed upon only last spring. In Finland's proposal, 15 members of the ECB Governing Council…
ECB's Solans on the international role of the euro
In a speech on 'An analysis of the international role of the euro: its impact on economic relations between Asia and Europe' given on 24 October, Eugenio Domingo Solans of the European Central Bank asked what has been the impact of the euro on economic…
Duisenberg on Maastricht and the future of Europe
In a speech on 'Maastricht and the future of Europe' given on 22 October, Wim Duisenberg of the ECB said: "As a central banker, I would argue that the draft Constitution for Europe has incorporated the substance of the EMU chapters of the Maastricht…
Malta c bank chief denies euro stories
The governor of the central bank of Malta, according to Malta Independent, denied stories that Malta, along with a few acceding countries, had begun talks with the European Central Bank about joining the euro. He said the whole story came about after an…
Issing on Inflation targeting: prospects, problems
In a panel discussion at the conference "Inflation targeting: prospects and problems" on 17 October Otmar Issing of the ECB said that the differences in the practices of central banks oriented to price stability are in fact relatively limited. "I believe…
Solans: Prices productivity and growth - and money
In a speech on 'Prices, productivity and growth... and money' given on 17 October Eugenio Domingo Solans of the ECB asks If a central bank does not pay due attention to monetary developments, the question is then: who, if anybody, shall do it? The only…
Trichet must be decisive on ECB policies
This article in the Financial times says that Jean-Claude Trichet should make tackling the ECB's lack of responsiveness and poor communication his priorities. The test, it says, will be whether Mr Trichet can persuade his colleagues to cut short-term…
Solans on EU enlargement and capital markets
In a speech on 'The enlargement of the EU and the European capital markets' given on 13 October, Eugenio Domingo Solans of the ECB said although a new era of financial development in accession countries is now in full swing, the challenges ahead are…
Solans on Eurosystem's role in financial markets
In a speech on 'The role of the Eurosystem in financial markets' Eugenio Domingo Solans of the European Central Bank said the job of a central banker is to make sure that the economic party is sustainable in the long term. I should like to toast this…
ECB Monthly Bulletin, October 2003
The European Central Bank published its October 2003 Monthly Bulletin on 9 October. The report said for the near future, risks to the main scenario of a gradual recovery appear to be broadly balanced. However, some risks to the sustainability of economic…
ECB: 'No comment' on Japan's MOF selling yen
A spokesman for the European Central Bank declined to comment on Japan's Ministry of Finance statement that it had sold yen heavily in the foreign exchange markets on Tuesday 30 September, according to Reuters.
Keeping up appearances at the ECB
MONDAY SPECIAL - It's always a bit unsettling to learn that something is not quite as it seems - but all the more so when the illusionist turns out to be such an esteemed pillar of the establishment as the European Central Bank (ECB). Who would suspect a…