euro Archives - IREF Europe https://en.irefeurope.org/tag/euro/ Independent research and policy analysis on fiscal, monetary, and regulatory issues in Europe Wed, 02 Apr 2025 03:42:10 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://en.irefeurope.org/wp-content/uploads/sites/3/2026/04/IREF-LinkedIn-Profile-DarkBlue-scaled.png euro Archives - IREF Europe https://en.irefeurope.org/tag/euro/ 32 32 Release of German Debt Brake eliminates the support behind the euro https://en.irefeurope.org/publications/online-articles/article/release-of-german-debt-brake-eliminates-the-support-behind-the-euro/?utm_source=rss&utm_medium=rss&utm_campaign=release-of-german-debt-brake-eliminates-the-support-behind-the-euro https://en.irefeurope.org/publications/online-articles/article/release-of-german-debt-brake-eliminates-the-support-behind-the-euro/#respond Wed, 02 Apr 2025 03:42:10 +0000 https://en.irefeurope.org/?p=35824 Introduction Germany, by releasing its Debt Brake and borrowing more itself, will use up the capacity the markets rely on to bail out the euro. Markets complacently believe the €1.5…

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]]> https://en.irefeurope.org/publications/online-articles/article/release-of-german-debt-brake-eliminates-the-support-behind-the-euro/feed/ 0 The European Central Bank’s capital is now negative! https://en.irefeurope.org/publications/online-articles/article/the-european-central-banks-capital-is-now-negative/?utm_source=rss&utm_medium=rss&utm_campaign=the-european-central-banks-capital-is-now-negative https://en.irefeurope.org/publications/online-articles/article/the-european-central-banks-capital-is-now-negative/#respond Wed, 05 Mar 2025 04:30:07 +0000 https://en.irefeurope.org/?p=35789 Introduction The European Central Bank (ECB) issued its 2024 annual report on 20th February and revealed that it now has negative capital.1 What with the German elections delivering a stalemate,…

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]]> https://en.irefeurope.org/publications/online-articles/article/the-european-central-banks-capital-is-now-negative/feed/ 0 There is no European Financial Safety Net, and therefore no Global Financial Safety Net https://en.irefeurope.org/publications/online-articles/article/there-is-no-european-financial-safety-net-and-therefore-no-global-financial-safety-net/?utm_source=rss&utm_medium=rss&utm_campaign=there-is-no-european-financial-safety-net-and-therefore-no-global-financial-safety-net https://en.irefeurope.org/publications/online-articles/article/there-is-no-european-financial-safety-net-and-therefore-no-global-financial-safety-net/#respond Wed, 24 Jul 2024 05:15:55 +0000 https://en.irefeurope.org/?p=35575 Introduction Financial regulators frequently refer to the Global Financial Safety Net, or GFSN, as the bulwark against a repeat of the Global Financial Crisis and the Eurozone crisis 2007-13. The…

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]]> https://en.irefeurope.org/publications/online-articles/article/there-is-no-european-financial-safety-net-and-therefore-no-global-financial-safety-net/feed/ 0 CBDCs: the hottest topic in central banking. What form of Central Bank Digital Euro should the ECB Launch? https://en.irefeurope.org/publications/iref-newsletter/article/cbdcs-the-hottest-topic-in-central-banking-what-form-of-central-bank-digital-euro-should-the-ecb-launch/?utm_source=rss&utm_medium=rss&utm_campaign=cbdcs-the-hottest-topic-in-central-banking-what-form-of-central-bank-digital-euro-should-the-ecb-launch https://en.irefeurope.org/publications/iref-newsletter/article/cbdcs-the-hottest-topic-in-central-banking-what-form-of-central-bank-digital-euro-should-the-ecb-launch/#respond Wed, 20 Mar 2024 06:40:54 +0000 https://en.irefeurope.org/?p=35416 Introduction – 130 Central Banks have CBDC Projects Since we last reported on the ECB’s thinking about CBDCs1, multiple central banks have undertaken research in designing, operating and selling CBDCs.…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/cbdcs-the-hottest-topic-in-central-banking-what-form-of-central-bank-digital-euro-should-the-ecb-launch/feed/ 0 The Passing of Jacques Delors, Architect of the Euro. How will his Legacy Play Out? https://en.irefeurope.org/publications/iref-newsletter/article/the-passing-of-jacques-delors-architect-of-the-euro-how-will-his-legacy-play-out/?utm_source=rss&utm_medium=rss&utm_campaign=the-passing-of-jacques-delors-architect-of-the-euro-how-will-his-legacy-play-out https://en.irefeurope.org/publications/iref-newsletter/article/the-passing-of-jacques-delors-architect-of-the-euro-how-will-his-legacy-play-out/#comments Wed, 24 Jan 2024 06:21:19 +0000 https://en.irefeurope.org/?p=35348 Introduction – the life and career of M. Jacques Delors, 1925-2023 Born in the interwar years, Jacques Delors joined France’s central bank aged 20, where he worked for seventeen years.…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/the-passing-of-jacques-delors-architect-of-the-euro-how-will-his-legacy-play-out/feed/ 1 The Outlook for Europe’s banks and economies in the light of Money Supply Increases and potential Reductions https://en.irefeurope.org/publications/iref-newsletter/article/the-outlook-for-europes-banks-and-economies-in-the-light-of-money-supply-increases-and-potential-reductions/?utm_source=rss&utm_medium=rss&utm_campaign=the-outlook-for-europes-banks-and-economies-in-the-light-of-money-supply-increases-and-potential-reductions https://en.irefeurope.org/publications/iref-newsletter/article/the-outlook-for-europes-banks-and-economies-in-the-light-of-money-supply-increases-and-potential-reductions/#respond Wed, 22 Nov 2023 05:27:19 +0000 https://en.irefeurope.org/?p=35290 Followers of US monetary policy are raising concerns about the consequences of the Federal Reserve’s efforts to reverse the 17% growth in the money supply (M21) in the two-year period…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/the-outlook-for-europes-banks-and-economies-in-the-light-of-money-supply-increases-and-potential-reductions/feed/ 0 New task bolted on to European Stability Mechanism – with how much extra risk? https://en.irefeurope.org/publications/online-articles/article/new-task-bolted-on-to-european-stability-mechanism-with-how-much-extra-risk/?utm_source=rss&utm_medium=rss&utm_campaign=new-task-bolted-on-to-european-stability-mechanism-with-how-much-extra-risk https://en.irefeurope.org/publications/online-articles/article/new-task-bolted-on-to-european-stability-mechanism-with-how-much-extra-risk/#respond Wed, 25 Oct 2023 03:47:03 +0000 https://en.irefeurope.org/?p=35264 Introduction The European Stability Mechanism (ESM) will now be backstop-of-last-resort to the Eurozone banking system, in addition to backstopping the Eurozone member states and the currency itself. Its resources have…

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]]> https://en.irefeurope.org/publications/online-articles/article/new-task-bolted-on-to-european-stability-mechanism-with-how-much-extra-risk/feed/ 0 Bulgaria Has Postponed its Entry into the Eurozone. What Does this Mean? https://en.irefeurope.org/publications/iref-newsletter/article/bulgaria-has-postponed-its-entry-into-the-eurozone-what-does-this-mean/?utm_source=rss&utm_medium=rss&utm_campaign=bulgaria-has-postponed-its-entry-into-the-eurozone-what-does-this-mean https://en.irefeurope.org/publications/iref-newsletter/article/bulgaria-has-postponed-its-entry-into-the-eurozone-what-does-this-mean/#respond Wed, 08 Mar 2023 07:44:55 +0000 https://en.irefeurope.org/?p=34842 Introduction – Bulgaria’s recent announcement On 17 February, Bulgarian finance minister Rositza Velkova announced that, rather than continue as planned with the full, formal adoption of the euro on 1…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/bulgaria-has-postponed-its-entry-into-the-eurozone-what-does-this-mean/feed/ 0 Croatia has Joined the Eurozone. Let’s Look at the Upside, with also a little Caution https://en.irefeurope.org/publications/iref-newsletter/article/croatia-has-joined-the-eurozone-lets-look-at-the-upside-with-also-a-little-caution/?utm_source=rss&utm_medium=rss&utm_campaign=croatia-has-joined-the-eurozone-lets-look-at-the-upside-with-also-a-little-caution https://en.irefeurope.org/publications/iref-newsletter/article/croatia-has-joined-the-eurozone-lets-look-at-the-upside-with-also-a-little-caution/#respond Wed, 18 Jan 2023 05:09:42 +0000 https://en.irefeurope.org/?p=34774 Introduction – Recent ECB Policy Developments Croatia became the 20th Eurozone member on January 1. Regular readers know our often expressed view that the euro is a deeply flawed currency…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/croatia-has-joined-the-eurozone-lets-look-at-the-upside-with-also-a-little-caution/feed/ 0 To what Extent Can the ECB Override Financial Markets? https://en.irefeurope.org/publications/iref-newsletter/article/to-what-extent-can-the-ecb-override-financial-markets/?utm_source=rss&utm_medium=rss&utm_campaign=to-what-extent-can-the-ecb-override-financial-markets https://en.irefeurope.org/publications/iref-newsletter/article/to-what-extent-can-the-ecb-override-financial-markets/#respond Wed, 21 Sep 2022 07:04:08 +0000 https://en.irefeurope.org/?p=34632 Towards the end of August, every year investors focus on the Jackson Hole conference of the central banking global elite. Given widespread acceptance among central bankers that non-temporary inflation is…

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]]> https://en.irefeurope.org/publications/iref-newsletter/article/to-what-extent-can-the-ecb-override-financial-markets/feed/ 0