European central bank

Ahead of a presidential election, France first needs to help itself on debt

When could market stress justify European Central Bank intervention over French debt and what must France do first for such support to be defensible?

Gene Frieda, Jacob Funk Kirkegaard and Mahmood Pradhan

What’s threatening financial stability?

Dutch Central Bank chief Olaf Sleijpen and Jeromin Zettelmeyer on risks, rates and responses

Rebecca Christie, Olaf Sleijpen and Jeromin Zettelmeyer

Did the 2022 energy inflation surge dent European Central Bank and Fed credibility? Evidence across horizons

Inflation expectations show that the ECB and Fed stayed credible after the 2022 energy shock, despite euro-area short-term weakness and US drift

Leonardo Cadamuro and Francesco Papadia

Calls for EU financial-rule simplification should not spill over into lower standards

EU banking rules are under pressure for simplification, but reforms should cut complexity without weakening financial safeguards

Jesper Berg and Hans Geeroms

Should the European Central Bank slow down quantitative tightening?

The ECB could slow down QT in response to currently tight financial conditions, but should communicate its intentions with care

Mahmood Pradhan

Can US banks have it all? Liquidity in times of ample reserves

An outline plan to reduce stigma associated with short-term borrowing from the Federal Reserve may be doing banks too many favours

Uuriintuya Batsaikhan

The real justification for the digital euro? Monetary sovereignty

The best argument for the digital euro is to discourage ghosts of the euro crisis from returning to haunt Europe

Rebecca Christie

EU securitisation needs a more market-based approach

The EU is updating its regulations on securitisation, but it still has a long way to go if it wants to emulate the strengths of the US market

Rebecca Christie

The European Union should embrace decentralised finance and make it safe

A hybrid system with a digital euro and regulated private money would safeguard the EU from dollar-denominated stablecoin dominance

Lucrezia Reichlin

Rules, discretion and market stabilisation in the euro area

Zsolt Darvas and Francesco Papadia

Debt sustainability analysis with conventional and unconventional monetary policy

Enrique Alberola-Ila, Gong Cheng, Andrea Consiglio and Stavros Zenios

When Greece was on the brink of euro exit: disaster averted, lessons learned

There are good arguments for greater European integration, but it must be built on trust, not spun out of crisis

Marco Buti, Klaus Regling and Thomas Wieser

The EU’s capital markets quest

Enrico Letta and Nicolas Véron discuss prospects for common EU financial supervision

Rebecca Christie, Enrico Letta and Nicolas Véron

Digital euro: why now and what's next

ECB’s Cipollone and Spain’s Hernández de Cos talk timing and strategic arguments for a new Central Bank Digital Currency

Rebecca Christie, Piero Cipollone and Pablo Hernández de Cos