Euro
Duisenberg rules out imminent interest rate cut
EUROPE - The president of the European Central Bank, Mr Wim Duisenberg, has ruled out any imminent cut in interest rates to accelerate economic growth across the euro zone.
Report says single currency boosts trade
UK - The creation of the euro has boosted trade between eurozone countries significantly, according to new research, reinforcing the argument that the single currency has created a more genuine single market in Europe.
ECB leader Sirkka Hamalainen criticises banks
FINLAND - Sirkka Hamalainen, a member of the Executive Board of the European Central Bank and the former Governor of the Bank of Finland, criticised banks and national authorities in the euro zone for hindering integration in financial markets.
European Central Bank Publication
PUBLICATION - The European Central Bank has published it's euro banknotes and coins, brochure, August 2002.
Poland: Fin Min, central bank want fast euro entry
POLAND - A joint finance ministry and Polish National Bank team that is preparing an exchange rate strategy before Poland's entry to the European Union, agreed that Poland should join the euro zone as a matter of urgency, Deputy Finance Minister Ryszard…
Sweden moves a step closer to joining the euro
SWEDEN - Sweden's prime minister, Goran Persson, on Friday removed another obstacle towards membership of the euro single currency.
New currency expected soon to replace the Afghani
AFGHANISTAN - A new Afghan currency printed in Germany and resembling the Euro is being introduced shortly to replace the almost valueless Afghani, reported Gulf News on Monday.
Dollar falls as Saudi investors withdraw billions
SAUDI ARABIA - The dollar today fell from recent highs against the euro and yen following a report that Saudi investors were pulling billions of dollars out of the US.
ECB Working Paper Series
RESEARCH - "An estimated stochastic dynamic general equilibrium model of the euro area", by Frank Smet and Raf Wouters, August 2002. The paper concludes that there is a considerable degree of price and wage stickiness in the euro area. The paper also…
ECB Working Paper Series
RESEARCH - 'The Industry Effects of Monetary Policy in the Euro Area' by Gert Peersman and Frank Smets, August 2002.
Dollar falls for fourth day in five versus euro
US - The U.S. dollar fell for a fourth day in five against the euro after a Federal Reserve report showed Philadelphia-area manufacturing unexpectedly contracted this month, the latest sign the U.S. economic recovery is slowing.
The Euro 50 Group Roundtable: The pact's performance and prospects
Pedro Solbes, a member of the European Commission, discusses the performance of, and prospects for, the stability and growth pact.
Why Britain should not join the euro
Janet Bush rejects the economic benefits of monetary union and argues that there is insurmountable opposition to the necessary complementary institution, a European government.
Euro banknotes fail test of time
GERMANY - Germans were among the swiftest of Europeans to detect that the euro was dangerous to their wealth. Now it seems the replacement to the mighty mark just does not cut it in the rough and tumble of everyday life.
ECB Working Paper Series
RESEARCH - The rationality of consumers' inflation expectations: survey-based evidence for the euro area, by M. Forsells and G. Kenny, August 2002. The results suggest consumers' inflation expectations in the euro area satisfy an intermediate rather that…
ECB report euro notes proving tough to counterfeit
GERMANY - The new euro bank note has proved bad news for forgers: less than a tenth of the previous number of counterfeit notes in the eurozone has been detected in the first six months in which the new currency has circulated.
Euro-zone inflation climbs to 1.9 per cent in July
BELGIUM - Inflation in the 12-nation euro zone edged up to 1.9 per cent in July compared with the same month in 2001, the statistics body Eurostat reported on Wednesday, citing provisional figures.
Interest rates in europe left unchanged
GERMANY - The European Central Bank on Thursday kept interest rates unchanged for the ninth month in a row amid uncertainty over the impact of turbulent financial markets and a stronger euro on Europe's slowly recovering economy.
Euro-zone current account moves to surplus in May
GERMANY - The current account for the 12-nation euro zone showed a surplus of 100 million euros (dollars) in May compared with a deficit of 2.2 billion euros in May 2001, the European Central Bank reported Friday.
Monetary developments in the euro area
REPORT - Monetary developments in the euro area: June 2002, released 25 July. The annual rate of growth of M3 decreased to 7.1% in June 2002, from 7.7% in May (revised downwards from 7.8%). The three-month average of the annual growth rates of M3 over…
Euro members told not to over inflate accounts
GERMANY - European countries which have ditched their national currencies in favour of the euro have been told they cannot use unreturned national cash to improve their budgets.
Poll shows UK public would defy gov't euro support
UK - Public opinion would remain opposed to Britain joining the euro - even if the government recommended it, according to the latest opinion poll from NOP.
Bank of France's Trichet sees euro zone growth
FRANCE - Bank of France governor Jean-Claude Trichet urged investors to "stay calm" during the slump in global financial markets, saying Wednesday that the downturn should not prevent growth in the 12-nation euro zone.
European Central Bank Press Release
PRESS RELEASE - Euro Area Securities Issues Statistics, May 2002. Released 22 July.