Address to the 2011 Dublin Economic Workshop, Ajai Chopra, Deputy Director, European Department, International Monetary Fund, October 15, 2011. Introduction I would like to thank the conference organizers for offering me the opportunity to talk about how the financial stability framework of the EU could be strengthened. Much has happened since July when I accepted [...]
The text of the communique issued by finance ministers and central bankers of the Group of 20 major economies after a meeting in Paris on Saturday: 1. We, the G-20 Finance Ministers and Central Bank Governors, met at a time of heightened tensions and significant downside risks for the global economy that need to be [...]
The movie Margin Call boasts superb performances, but right now the ‘normal’ public may not want to go and see a film about the US financial crisis. There’s so much male energy coursing through JC Chandor’s promising financial crisis thriller Margin Call that by the end of it you’d be clamouring for an oestrogen bath, [...]
The Commission has presented a roadmap outlining the comprehensive response that is needed to restore confidence in the Euro area and the European Union as a whole. This response is designed to break the vicious circle between doubts over the sustainability of sovereign debt, the stability of the banking system and the European Union’s growth [...]
By Matthew Corder and Martin Weale. Summary. Policymakers need to be aware of the risk of extreme events such as recessions and banking crises. Given the future is uncertain, monetary policy makers need to consider the full range of risks around their forecasts when considering policy, including the probability of recession. Financial stability policy makers [...]
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the 13th Annual Emerging Markets Conference 2011 Washington, 24 September 2011. Ladies and gentlemen, I am very pleased to address this distinguished audience. Looking back over time, we see that the role and conduct of monetary policy has often changed in response [...]
Constraints on Central Banks Leave Markets Adrift. They called it the “Greenspan put,” and it reassured a generation of traders. If economic storms were gathering, the top central banks — most important the Federal Reserve, then led by Alan Greenspan — could and would step in to prevent disaster. Because the traders effectively had a [...]
Another memoir from a former member of Brown’s government adds brushstroke detail and depth to his monster status. The third reaction on reading Alistair Darling’s memoir, after enjoying the quality of the writing and the nicely understated humour, is to wonder again how Gordon Brown was ever allowed to be Prime Minister. Of course, we [...]
Remarks at Jackson Hole by Christine Lagarde, Managing Director, International Monetary Fund. Let me first thank Tom Hoenig for inviting me to participate in this remarkable conference in Jackson Hole. Tom has served the Federal Reserve System with great distinction, and has made a significant contribution to economic and monetary policy discussion. And let me [...]