Europe
Spain has 'very good' candidates to replace Solans
Spain can offer "very good candidates" to replace European Central Bank executive board member Eugenio Domingo Solans when his mandate ends on May 31, said Economy Minister Rodrigo Rato this week.
'The monetary policy of the ECB': 2nd edition
The European Central Bank published the second edition of "The monetary policy of the ECB" on 30 January. The publication aims to provide the public with a comprehensive overview of the ECB's monetary policy and its economic and institutional background.
Solbes warns on rising euro danger
European Economic and Monetary Affairs Commissioner Pedro Solbes said on Friday 30 January that the continued appreciation of the euro could affect business confidence in the eurozone.
Trichet on challenges for the European economy
In a speech on 'The challenges for the European economy in 2004' given on 29 January, Jean-Claude Trichet of the ECB said it was of the utmost importance that the new Member States countries fulfil the convergence criteria not only nominally but also in…
Trichet on European financial markets integration
In a speech on 'The integration of European financial markets' given on 26 January, Jean-Claude Trichet of the ECB said the potential gains from monetary union will only be fully realised if remaining barriers to integration of European financial markets…
Trichet says no need to change growth pact
In a speech on 'Economic reform in Europe' given on 26 January, Jean-Claude Trichet of the ECB said the ECB does not see any need for changes to the eurozone's rules on budget deficits, which he described as "appropriate".
ECB's Wellink-Rate moves can't control fx swings
Nout Wellink of the European Central Bank's Governing Council said that interest rate moves were not the way to deal with foreign exchange swings and that the euro's external value was not excessive.
Counterfeit euro notes rises in 2nd half 2003
The ECB said on Thursday 22 January that a total of 311,925 counterfeit euro banknotes were removed from circulation in the second half of 2003, an increase of 30 per cent on the first half.
ECB Monthly Bulletin, January 2004
The European Central Bank published its January 2004 Monthly Bulletin on 22 January. In the report the ECB spelt out its concern over currency volatility but showed no sign it might change its outlook for a gradual economic upturn in the eurozone.
Issing's testimony to the European Parliament
In testimony before the Committee on Economic and Monetary Affairs given on 20 January, Otmar Issing of the ECB backed Brussels' legal action against EU capitals for shirking the EU's deficit rules.
Solbes confident of euro stability
Speaking on Tuesday 20 January, Pedro Solbes, the EU's monetary affairs commissioner, said he believes the euro will not rise excessively, following EU ministers warning of dangers amid a record rise in the currency's value.
EU to base regulators in London and Frankfurt
European Union finance ministers agreed on Tuesday 20 January to base two new financial regulatory committees in London and Frankfurt.
As euro soars ECB must be ready to cut - Rogoff
The euro could strengthen to $1.40 or beyond and the European Central Bank must be prepared to cut interest rates in response, former IMF chief economist Kenneth Rogoff was quoted as saying.
Mundell proposes $1.30 ceiling on euro
Nobel-prize winning economist Robert Mundell was quoted on Monday 19 January as saying Group of Seven rich nations should intervene to halt a euro rise beyond $1.30.
ECB announces results of Eurosystem consultation
The ECB released the result of the public consultation on measures to improve the collateral framework of the Eurosystem on 15 January.
ECB's Issing is concerned by strong euro
The European Central Bank's chief economist Otmar Issing said on Friday 16 January that he was "concerned" about the impact of the strong euro.
Trichet at the Euro-Mediterranean Seminar
In a speech to the Euro-Mediterranean Seminar of Eurosystem and Mediterranean country national banks given on 15 January, Jean-Claude Trichet of the ECB said the seminar should be a platform for an exchange of views between central banks of the…
Le Pan on the future of regulatory capital
In a speech on "The future of regulatory capital: targeting a consistent regulatory approach on a regional and functional basis" Nicholas Le Pan, Superintendent of the OSFII, talks about promoting consistency with the new Basel Capital Accord.
EU to take court action over budget rules
The European Union's head office decided on Tuesday 13 January to take finance ministers to court for letting Germany and France off the hook for violating euro budget rules. An EU spokesman said the move to vary the rules "was not the appropriate…
Legal action likely over budget rules fudge
The European Commission is expected to back legal action on Tuesday 13 January against last November's decision by eurozone finance ministers to suspend the single currency's budget rules in the case of France and Germany.
ECB press conference with questions and answers
Speaking on Thursday 8 January, ECB president Jean-Claude Trichet said that available indicators point to an ongoing economic recovery in the euro area and that the assessment has not fundamentally changed but he said the ECB did not like excess…
Noyer-ECB policy offers best conditions for growth
Christian Noyer, governor of the Bank of France, said on Friday 9 January that the ECB would not give in to external pressure on its strategy and that current monetary conditions in the eurozone offered the best possibilities for growth.
ECB maintains eurozone rates at 2%
The European Central Bank left interest rates unchanged on Thursday 8 January as widely expected, defying calls that cheaper money is needed to prevent a strong euro from hurting economic recovery.
Court battle may loom over EU Pact
EU finance ministers reportedly acted illegally when they suspended EU budget rules to spare France and Germany disciplinary action over their excessive deficits.