Eurozone
IMF says ECB should be ready to cut rates
The International Monetary Fund published a report on Wednesday 3 August urging the European Central Bank to stand ready to cut interest rates.
OECD report calls for eurozone reforms
Economic growth in the eurozone will halve in the next two decades unless it implements reform, the Organisation for Economic Co-Operation and Development warned on Tuesday 12 July.
IMF's Rato says don't rule out ECB rate cut
The head of the International Monetary Fund has said a rate cut in the Eurozone cannot be ruled out if the EU economy weakens.
The Maastricht inflation criterion
According to the ECB Working Paper "The Maastricht inflation criterion: How unpleasant is purgatory?" the Maastricht inflation criterion, designed in the early 1990s to bring "high-inflation" EU countries in line with "low-inflation" countries prior to…
Trichet's statement to EP on ECB's Annual Report
In a statement to the European Parliament on the ECB's Annual Report 2003 on Monday 25 October, Jean-Claude Trichet said the eurozone economy was likely to continue growing at its current pace, but noted that high oil prices could dampen the speed of the…
ECB's Papademos sees faster eurozone growth
European Central Bank Vice President Lucas Papademos said at the weekend that economic growth in the dozen euro member countries may be faster in coming quarters than has previously been forecast.
Eurozone recovery at risk, says IMF
The eurozone's recovery remains fragile and is vulnerable to weak consumer demand and the risk of a further rise in the already strong euro, the International Monetary Fund warned the single currency's member states on Tuesday.
Polish national bank urges fast euro entry
The National Bank of Poland has said Poland and other recent entrants to the European Union would be well advised to join the eurozone without delay.
Eurozone inflation sticks at 2.0% in January
Eurozone annual inflation in January is expected to remain at two per cent according to official estimates published by the European Commission.
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.
ECB's Wellink: Interest rates low enough
European Central Bank Governing Council Member Nout Wellink said on Thursday 23 October that interest rates are low enough to support economic recovery in the eurozone, according to Reuters.
Duisenberg optimistic for eurozone economy
Outgoing European Central Bank President Wim Duisenberg said on Thursday 23 October that he was "fairly optimistic" regarding the outlook for eurozone growth, according to AFP Things are going in the right direction, albeit slowly. I think that in Europe…
Crunch meeting for Caruana - Special Feature
CentralBanknet's Monday special feature focuses on the Basel Committee's current crunch meeting in Madrid and the key issues for Jamie Caruana's chairmanship.
Europe should do more - Snow
John Snow, the U.S. Treasury Secretary, took aim at European policymakers, urging finance ministers and central bankers to do more to boost economic growth. Mr. Snow demanded "more accommodative" interest rates and budgets. His spokesman, Rob Nichols,…
Include price stability in constitution says ECB
The ECB has called for price stability to be made an explicit goal of the EU in the new EU constitution which is under negotiation.
EU lacks imagination: Bank of Finland
The Bank of Finland has blamed a lack of confidence and imagination in the economic polices by single currency countries for the weak growth in the euro zone, reports AFP.
ECB officials split on pace of recovery
ECB officials remain divided over the pace and strength of the economic recovery, says the Financial Times. Eugenio Domingo Solans said the eurozone should start showing signs of recovery soon, but it was possible the upturn had already started. But…
Stark on The Euro Area as an Economic Entity
Speech titled 'The Euro Area as an Economic Entity' by Vice President Jurgen Stark of the Bundesbank to the CEPR/ESI conference, Eltville, 12 September. In the speech Stark said "my experience tells me that central bankers and academics alike are willing…
Duisenberg on changing fortunes and world growth
In a speech on 'Changing fortunes: financing world growth' given on 5 September Wim Duisenberg of the European Central Bank said he is convinced that economic activity in the euro area can only be lifted to a new, structurally higher, level by far…
Central bankers see a global upswing
Jean-Claude Trichet said on Monday 8 September that he was "very encouraged" by developments and the accumulation of signs in the major economies in the world, Reuters reports. Speaking at a news conference after a bi-monthly central bankers' meeting at…
Germany in recession as Eurozone stagnates
The German economy fell into a technical recession after data showed a second successive quarter of negative growth in the three months to the end of June, Reuters reports.
Undue pessimism is driving the eurozone recession
This article by Paul De Grauwe in the Financial Times says that the ECB was wrong to blame the eurozone recession on structural factors and scold eurozone politicians for doing nothing to liberalise labour markets and modernise welfare systems. "It is…
Europe cashes in on its forgotten money
European governments are rubbing their hands with glee at the prospect of a windfall of up to €13 billion from their forgotten national currencies, CentralBankNet discovers in this week's Monday Special Feature. This is the amount of lire, guilder,…
Commission divided on relaxing pact rules: Solbes
Pedro Solbes said on Friday 18 July that fiscal deficit limits should remain a "key element" of the stability and growth pact but conceded there were different opinions with the European Commission, Reuters reports.