Euro

Liikanen on Finland, the EMU and the euro

In the speech 'Finland, the EMU and the introduction of the euro' given on 20 October Erkki Liikanen of the Bank of Finland said many of the asymmetric shocks feared by the opponents to Finland's adoption of the euro have already been realised over this…

Sterling sits pretty as volatility vanishes

According to this article from the Financial Times, published Tuesday 24 October, the UK's fiscal rules are superior to the eurozone's Stability and Growth Pact and the Treasury's opposition to joining the euro has been vindicated.

ECB's Stark on the euro area's role

In the speech 'The euro area's role in the global economy' given on 13 October Jurgen Stark of the ECB said while EMU is a success story with respect to the single monetary policy a lot needs to be done in the areas of fiscal policies and structural…

BIS paper on the euro as a reserve currency

The BIS Working Paper "The euro as a reserve currency: a challenge to the pre-eminence of the US dollar?" investigates whether euro financial markets have developed sufficiently to facilitate the emergence of the euro as a reserve currency on par with…

Central Europe cannot afford to delay the euro

According to this article published by the Financial Times on Monday 9 October, the main reason for stalling central European economies is the reluctance by several governments to embrace monetary union as quickly as possible.

Tumpel-Gugerell on financial system modernisation

In the speech 'Opening remarks at the conference on Financial System Modernisation and Economic Growth in Europe' given on 28 September Gertrude Tumpel-Gugerell of the ECB said EU economic growth has been disappointing in the period since the launch of…

IMF paper on currency volatility trends

The IMF Working Paper "Common volatility trends in the Central and Eastern European currencies and the euro" asks how much convergence has been achieved between Central and Eastern European (CEE) economies and the eurozone.

ECB's Weber not worried on Iran reserves threat

A threat by the Central Bank of Iran to move its foreign exchange reserves out of dollars into other currencies, notably the euro, should not necessarily be a cause for concern, European Central Bank Governing Council member and Bundesbank President Axel…

How the euro gives Britain a free ride

New research suggests Britain and other European countries that have not adopted the euro have nevertheless benefited from it nearly as much as insiders, without giving up policy autonomy

Slovakia pledges 2009 for euro adoption

In an interview with the Financial Times, Slovakia's finance minister Jan Pociatek said, "It is my personal responsibility to follow the euro commitment," allaying fears that the new leftist government might delay the adoption of the single currency.

New York Fed's Foreign Exchange Operations Report

According to the Federal Reserve Bank of New York's Treasury and Federal Reserve Foreign Exchange Operations quarterly report for April-June 2006, published 3 August, the U.S. monetary authorities did not intervene in the foreign exchange markets during…

Counterfeiters finally crack the Euro note

According to this article published on The New Zealand Herald's website on Wednesday 2 August, the amount of counterfeit currency discovered in the 12 euroland countries is now running at 600,000 notes a year - roughly the same as before the single…

Jarai sees euro entry hopes unlucky before 2013

Hungary's central bank (NBH) governor Zsigmond Jarai said on Tuesday 1 August that Hungary's economy was not on the right track and that it has become questionable whether euro adoption could be possible even in 2013.

Fiscal convergence before entering the EMU

This European Central Bank Working Paper, published 27 July, addresses the question of whether a reduction of public deficits, such as imposed by the Maastricht fiscal criteria, is a necessary or useful step on the road to the adoption of the euro.

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