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My aim is to examine the implications of monetary union for macrofinancial stabilisation policies at national and area-wide levels. The boom-bust-crisis-recovery cycle that the euro area has experienced over its first two decades has revealed the costs of national and international institutional frameworks that proved inadequate to manage the policy challenges of this period. After the crisis, much has been done to remedy these policy shortfalls, even if the reform agenda is far from complete. National and area-wide policymakers should make use of the improved institutional architecture to do a better job in terms of ex-ante risk management and ex-post crisis management. JEL E00 * E58 * F33 * F45, 1 Introduction Macrofinancial policy officials should draw two primary conclusions from the experience of the first 20 years of the euro. (1) First, emerging macrofinancial imbalances should be addressed in [...]

It is now more than a decade since the formation of the eurozone currency union. The European Central Bank, located in Frankfurt, is responsible for setting interest rates and controlling […]

This paper tracks levels of Euro preparations by UK SMEs with trade links with the Euro currency area using two surveys of the same cross-sectional dataset. The first study was [...]

In IT circles, converting systems to the euro is considered the next "Y2K." Whereas Y2K involved correcting a set of dates, euro conversion involves currency regulations of the European Monetary Union (EMU) as well as those of the EMU member countries. Thus, migrating to the euro is far more complex than solving Y2K. To help IT managers cope with the difficulties of converting systems to the euro, the Euro Working Group (EWG) was formed. In this article, the chairman of the EWG presents the group's strategies for switching information systems to the new currency.

At the end of the business day on Thursday, Dec. 31, Chase Manhattan Corp. will shut its doors to customers and close its books on another year. But at the [...]

Cost estimates for converting the European monetary system to the euro range from US$100 bil to US$400 bil. Costs will involve adjusting technological money management systems. The systems must manage both the three-year transition period and the permanent conversion that begins on Jan 1, 2002. Banks will reengineer core systems first and then front-end office applications.

International financial firms are faced with problems relating to financial information management as the year 2000 computer problem (Y2K) coincides with the introduction of a single currency in Europe. US-based firms, however, are more concerned with the Y2K, whereas, European firms are preoccupied with the Euro-currency introduction. To address the issues concerning the currency conversion and the Y2K, several approaches are under consideration including the triangulation of currencies., TODAY IT'S EUROPE'S PROBLEM - TOMORROW, IT'S THE WORLD'S Horror stories abound about corporate unpreparedness for the Year 2000 (Y2K) computer glitch. But occurring almost simultaneously is a sister glitch [...]

The establishment of a single European currency common to all members of the European Union could create either a common State currency for different members or a currency of the EU as an international legal subject. The differences between these are negligible for practical purposes, but further legal development of the European currency unit could lead to different units of different value. The legal backing, commercial use, and effects on existing contracts of such a monetary change are explored.

The introduction of a new currency in Europe, the euro, occurs on January 1, 2002, when the new notes and coins immediately become the primary legal tender in 12 countries. [...]

The promised land that lies ahead keeps receding into the distance IN THESE times of tribulation for the euro, Germany offers a prophecy. One day, when the euro zone has [...]

When it comes to the euro, the German chancellor prefers self-help to help--but she can be more flexible than she seems WHEN warnings sound that the end of the euro [...]

Amid growing risk of a Greek exit, the euro zone has yet to face up to the task of saving the single currency itself THE respite in the euro crisis [...]

The German chancellor will probably win approval for the latest euro rescue plan--but it will not be the last such scheme AS SHE prepared to embark on her summer holiday [...]

As the euro-zone crisis spooks governments, opinions are diverging dramatically about what the union is for WILL the European Union make it? The question would have sounded outlandish not long [...]

NEW YORK - Executives heading to Pitti Uomo in Florence this week remain surprisingly calm about the continuing rise of the euro, which has appreciated 60 percent relative to the [...]

On Nov. 22, 2006, the European Associations of Corporate Treasurers (EACT) signed memorandums of understanding (MOUs) with both Swift and Twist. The objective: to harmonize the two standards-setting organizations with [...]

A government email to the industry suggests a decision on the euro's introduction is near. FINIAN DAVERN reports IF YOUR boss sent you an email headed 'meeting' and asked you [...]

Euro 1.8 million is being made available in Bulgaria under the Phare 'Access' programme, which aims at strengthening civil society in the candidate countries in preparation for EU accession. It [...]

THE euros dominance of the UKs political agenda could delay the Governments probing of the split cap sector. Pressure on the Treasury Select Committee to look at implications of the [...]

Wim Duisenberg, the controversial president of the European Central Bank, has announced that he will step down early, in July next year. His departure could mean a protracted struggle for [...]

Major hotel chains in the UK have made no big changes to prepare for the New Year introduction of the euro as hard currency in Europe. Marriott, Travel Inn, Le [...]

PARIS -- European retailers Wednesday shrugged off concerns of confusion and long waits as they opened for the first time after the introduction of the new single currency, the euro. [...]

Euro Facts and Fiqures * The euro will become the only legal tender in the twelve European Union countries at midnight on February 28, 2002. * This switch will be [...]

An economic downturn may still be a downturn when Europeans measure it in euros rather than their national currencies Europe is just a step away from its boldest act yet [...]

Q: What is your view of the relative states of the European and US economies? A: The European economy is very much led by the US economy, and therefore it [...]

During the nineteenth and the first half of the twentieth centuries, the British pound was the preeminent international currency. It was used in both international trade and financial transactions and [...]

Anxiety over the switch to the single currency in January has reached fever pitch in Germany where some supermarket workers will be banned from leave during the two months after [...]

Europe's new currency, the euro, won't be available in paper money and coins until early next year, but Colorado. businesses that do business in Europe need to prepare for that [...]

Euro benefits from US rate cut The euro has continued to capitalise on the gains it has made against all major currencies over the past few days. The single currency [...]

On Friday morning, the euro's dizzy decline halted as traders awaited the outcome of today's meeting of euro zone finance ministers (Ecofin). The previous afternoon had seen the currency crash [...]

As the euro dropped under parity with the dollar, the European Central Bank (ECB) made its second consecutive increase in interest rates and its third move since it took over [...]

French President Jacques Chirac and German Chancellor Gerhard Schroder told a news conference after a regular Franco-German summit in late November that there is no reason to doubt the euro. [...]

For the first time since the launch of the euro, the European Central Bank has raised interest rates. The increase by 0.5 percent to 3 percent is widely viewed as [...]

Euro further undermined by conflicting ECB comments The flagging euro was dealt a further blow today as market confidence in the single currency was further sapped by contradictory comments from [...]

Retailers are more at risk than other sectors of the economy of running out of time if Britain says `yes' to the euro, according to KPMG Consulting. Speaking at Retail [...]