Europe
NBB working paper pays tribute to 'architect of the euro'
National Bank of Belgium working paper highlights role of Tommaso Padoa Schioppa in the creation of the euro
Draghi places emphasis on governments to drive EU growth
ECB president says national policy-makers must take measures to develop the competitiveness of their economies; downside risks prevalent for euro economy
Lagarde believes strong US role key to global recovery
IMF chief says US leadership vital; interconnectedness of the global economy means US has a stake in European and global recovery
Draghi explains why more LTRO draw-down information is not released
ECB president says it is not possible to release details of LTRO draw downs by individual banks and country usage figures as it could be misleading
Bank of Slovenia forecasts economic contraction in 2012
Bank of Slovenia forecasts 1.2% contraction in 2012: revised budget in April expected to contain further fiscal tightening
RBA governor posits positive outlook as rates remain unchanged
Domestic demand in 2011 was highest rate for four years, says Glenn Stevens; inflation and borrowing also at trend as Reserve Bank of Australia holds rates
Bernanke stresses financial stability role of central banks
Fed chairman says central banks must treat financial stability and monetary policy as equally important; discusses new regulatory regime as he delivers final student lecture in series
Israeli governor airs fears over impact of European slowdown
Stanley Fischer discusses European economic strife impact on Israeli growth prospects; expresses worries over possible methods for increasing defence budget
ECB’s Asmussen emphasises need for Greek reforms
Jörg Asmussen stresses importance of timely implementation of reform programme in Greece
Interbank market ‘almost dead’ in Europe, says Banque de France’s Mongars
ECB operations are critical for European bank funding as the interbank market is all but broken, says NALM panellist
Estonian governor calls for eurozone co-operation
Lipstok says eurozone member states must work together to ensure a sustainable economic recovery
Bundesbank president cautions against central bank shift into politics
Deutsche Bundesbank president Jens Weidmann confirms central bank’s policy advocating tighter eurozone rules while acknowledging long-term growth is needed to help peripheral countries out of debt
Reserve Bank of Australia wary of risks from European contagion
RBA Monetary Policy Committee signals ongoing concern at contagion effect from Europe dampening Australian prospects
‘Numerous episodes’ of heightened anxiety ahead for Europe, says RBA’s Stevens
Reseve Bank of Australia governor, Glenn Stevens, says ‘old world’ problems have “riveted” global attention but ECB action prevented another funding crisis
Canada cracks down on Syrian central bank
Canada imposes asset freeze on Central Bank of Syria; foreign affairs minister reiterates demand that president Assad step down
Swedish authorities lambast maximum harmonisation for Basel III
Swedish Finansinspektionen and the Riksbank hold first joint meeting on macroprudential policy matters; again take on EU proposals to fix capital adequacy requirements
EFSF gets go-ahead for collateral enhancement facility
Plan to restore worth to Greek bonds as collateral is authorised; two days after the European Central Bank was forced to stop accepting Greek bonds following downgrade
Bank of Mauritius releases financial stability report
Latest report offers overview of international and domestic economic pressures impacting the country
Praet discusses lessons from the crisis
ECB executive board member says speed at which imbalances result in systemic risks is a major lesson to learn; talks of emerging new Europe
EU freezes assets of Syrian central bank
Council of the European Union announces freeze on central bank assets among string of sanctions; EU “increasingly appalled” by situation in the country, says council
Lagarde stresses importance of firewalls
Managing director of IMF says she is “encouraged” by G-20 commitment to strengthening firewalls to limit spread of economic damage
New fault lines in financial regulation
Deleveraging could trigger another crippling credit crunch in Europe at a time when the recovery is still fragile. By Jacques de Larosière
Brendan Brown on life after death for the Emu
Brendan Brown puts forward a proposal for how a functioning monetary union in Europe could operate if the current system was to fail
EU leaders present plan for growth
EU member state leaders issue joint statement on restoring growth to the economy; all eyes on finance ministers’ meeting in Brussels