Euro

Target2: ready to go

Five years in the making, Europe's new large-value payments system, known as Target2, is ready to go live on 19 November.

Banks struggle with SEPA set-up

More than half of banks will not be able to comply with the Single Euro Payments Area (SEPA) initiative, which comes into effect in January.

EU re-designs euro coin to exclude Turkey

The new design of the euro coin - set to be introduced next year in Slovenia, Malta and Cyprus - will not feature Turkey despite its inclusion in the original plans.

Merkel defends ECB's independence

German Chancellor Angela Merkel implicitly criticised fellow head of government Nicolas Sarkozy of France when she said at an event to celebrate 50th anniversary of the Bundesbank that her government will block any attempts to exert political influence…

Estonia delays euro entry

The Bank of Estonia has said that Estonia would not meet EU criteria for eurozone accession in the years 2008-2009 and thus would not be able to adopt the common currency in 2010.

Living with a strong euro

Europe’s policymakers should be proud of a strong single currency, and actively promote its international role, says Angel Ubide

IMF on euro area policies

A report by the International Monetary Fund on euro area policies, released on 31 July, said that the outlook for the region was the best in years, but stabilising inflation below 2% may imply further gradual tightening of monetary policy.

Mixed message from Bernanke

Testimony today from Ben Bernanke, the chairman of the Federal Reserve, before the House of Representatives Committee on Financial Services gave a somewhat mixed message as he predicted that while he expects economic growth to pick up slightly next year…

Hungary's Simor questions Maastricht criteria

Andras Simor, the president of Hungary's central bank, told reporters in Bucharest on 17 July that the Maastricht criteria for the adoption of the euro "might not be as appropriate for emerging countries as for the more developed ones."

Sarkozy tones down ECB rhetoric

French president, Nicolas Sarkozy, appears to have relented to pressure from other European leaders over his repeated criticism of the European Central Bank (ECB). The newly-elected leader said on 16 July that he supported the central bank's independence.

Latvia leaves rates on hold

The Bank of Latvia's Council voted to leave its refinancing rate unchanged at 6% noting that its anti-inflation plan was starting to take effect and there were the first signs of a stabilisation in the real estate market.

Papademos on euro adoption in Malta and Cyprus

In this speech, Lucas Papademos, the vice-president of the European Central Bank, discusses the adoption of the euro in Malta and Cyprus. The two island economies will adopt the euro on 1 January 2008.

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