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Speeches of boardmembers

6/12/2016
Yves Mersch:  Distributed Ledger Technology: role and relevance of the ECB
Speech by Yves Mersch, Member of the Executive Board of the ECB, 22nd Handelsblatt Annual Conference Banken-Technologie, 6 December 2016
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28/11/2016
Benoît Cœuré:  Greece: progress achieved and challenges ahead
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the American-Hellenic Chamber of Commerce conference on “Greece and the global disruptive environment: A look into the future”, Athens, 28 November 2016
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24/11/2016
Peter Praet:  The importance of a genuine banking union for monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, at the EMU Forum 2016, Oesterreichische Nationalbank, Vienna, 24 November 2016
21/11/2016
Benoît Cœuré:  Addressing Europe's economic and political challenges
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at TUM Speakers Series/HEC Débats organised by the Technical University of Munich, Munich, 21 November 2016
18/11/2016
Peter Praet:  The euro area economy, monetary policy and structural reforms
Remarks by Peter Praet, Member of the Executive Board of the ECB, at the Observatory Group roundtable in New York, 18 November 2016
17/11/2016
Peter Praet:  The future of global financial integration
Remarks by Peter Praet, Member of the Executive Board of the ECB, Global Research Forum on International Macroeconomics and Finance, Federal Reserve Bank of New York, 17 November 2016
17/11/2016
Yves Mersch:  The causes of monetary policy measures and their impact – a review
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Euro Finance Week, FAROS Institutional Investors Forum, Frankfurt, 17 November 2016
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15/11/2016
Sabine Lautenschläger:  The European banking sector – a quick pulse check
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at a Euro Finance Week Conference, Frankfurt am Main, 15 November 2016
14/11/2016
Peter Praet:  Long-run saving and monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, Parliamentary evening on “Challenges for long term savings products in the context of the zero-interest rate policy”, Brussels, 14 November 2016
10/11/2016
Yves Mersch:  Comments by Yves Mersch at Financial Services summit
Comments by Yves Mersch, Member of the Executive Board of the ECB, Cumberland Lodge Financial Services Summit, 10 November 2016
9/11/2016
Peter Praet:  Monetary policy and the euro area banking system
Speech by Peter Praet, Member of the Executive Board of the ECB, at ECMI Annual Conference, Brussels, 9 November 2016
8/11/2016
Benoît Cœuré:  Low interest rates are not inevitable
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, Les Echos, 9 November 2016
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7/11/2016
Sabine Lautenschläger:  Two years and three days of European banking supervision – what has changed?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Banking and Corporate Evening of the Deutsche Bundesbank’s Regional Office in Bavaria, Munich, 7 November 2016
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3/11/2016
Benoît Cœuré:  Sovereign debt in the euro area: too safe or too risky?
Keynote address by Benoît Cœuré, Member of the Executive Board of the ECB, at Harvard University's Minda de Gunzburg Center for European Studies in Cambridge, MA, 3 November 2016
28/10/2016
Benoît Cœuré:  Monetary policy in a low-growth environment
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 4th Frankfurt Conference on Financial Market Policy organised by the Sustainable Architecture for Finance in Europe Policy Centre, Goethe University, Frankfurt, 28 October 2016
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27/10/2016
Yves Mersch:  Low interest rate environment – an economic, legal and social analysis
Speech by Yves Mersch, Member of the Executive Board of the ECB, University of the Deutsche Bundesbank, Hachenburg, 27 October 2016
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26/10/2016
Peter Praet:  The euro area economy, monetary policy and structural reforms
Remarks by Peter Praet, Member of the Executive Board of the ECB, at the European Treasurers Club in Brussels, 26 October 2016
12/10/2016
Yves Mersch:  The ECB and the Federal Reserve – an ocean apart?
Speech by Yves Mersch, Member of the Executive Board of the ECB, Harvard University, 12 October 2016
12/10/2016
Benoît Cœuré:  Strengthening the Greek financial system
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a public hearing at the European Parliament, Brussels, 12 October 2016
11/10/2016
Yves Mersch:  Speaking points for an event organised by MNI Connect
Speech by Yves Mersch, Member of the Executive Board of the ECB, New York, 11 October 2016
7/10/2016
Peter Praet:  Beyond monetary policy: on the importance of a proper alignment of economic policies in EMU
Speech by Peter Praet, Member of the Executive Board of the ECB, at the conference “Beyond Monetary Policy”, organised by the US-Korea Institute at SAIS and Reinventing Bretton Woods Committee, Contribution to the Panel on Realignment of Economic Policy: Beyond Monetary Policy, Washington D.C., 7 October 2016
6/10/2016
Peter Praet:  Turn cyclical recovery into a structural recovery
Remarks by Peter Praet, Member of the Executive Board of the ECB, at the Morgan Stanley Roundtable “What next for Europe” in Washington, D.C., 6 October 2016
6/10/2016
Peter Praet:  Monetary policy transmission in the euro area
Policy address by Peter Praet, Member of the Executive Board of the ECB, at the SUERF Conference “Global Implications of Europe’s Redesign”, New York, 6 October 2016
4/10/2016
Peter Praet:  Monetary policy and the euro area banking system
Speech by Peter Praet, Member of the Executive Board of the ECB, at VII Financial Forum organised by Expansión and KPMG, Madrid, 4 October 2016
3/10/2016
Yves Mersch:  The challenge of low interest rates for banks within the banking union
Speech by Yves Mersch, Member of the Executive Board of the ECB, Public Roundtable at the University of Luxembourg on “Banking Union – Quo Vadis?”, Luxembourg, 3 October 2016
27/9/2016
Benoît Cœuré:  Reforming financial sector benchmarks
Welcome remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the annual meeting of the Money Market Contact Group, Frankfurt am Main, Tuesday 27 September 2016
26/9/2016
Benoît Cœuré:  Having confidence in Europe
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, at a conference organised by the Istituto Affari Internazionali, Rome, 26 September 2016
26/9/2016
Yves Mersch:  The next steps in the evolution of the Eurosystem’s market infrastructure
Opening remarks by Yves Mersch, Member of the Executive Board of the ECB, at the Eurosystem community session at Sibos, Geneva, 26 September 2016
19/9/2016
Yves Mersch:  Banks adapting to the new normal: Striking a balance between prudence and pragmatism
Speech by Yves Mersch, Member of the Executive Board of the ECB, Dinner Speech at the Mandarine Gestion Investment Conference, Munich, 19 September 2016
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15/9/2016
Benoît Cœuré:  The Case for Rethinking International Capital Flows
Dinner speech by Benoît Cœuré, Member of the Executive Board of the ECB, SUERF/PSE/CEPII Conference on "Rethinking Capital Controls and Capital Flows", Paris, 15 September 2016
15/9/2016
Peter Praet:  Remarks at the BNYM 20th anniversary dinner on the dynamics of TARGET2 balances and monetary policy implementation
Dinner address by Peter Praet, Member of the Executive Board of the ECB, at the BNYM 20th anniversary, Brussels, 15 September 2016
13/9/2016
Sabine Lautenschläger:  Monetary policy in uncertain times – the ECB and the crisis
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, Parliamentary evening in Strasbourg, 13 September 2016
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7/9/2016
Yves Mersch:  Reaching for perfection – building the market infrastructure of tomorrow
Opinion piece by Yves Mersch, Member of the Executive Board of the ECB, Eurofi Magazine, 7 September 2016
3/9/2016
Yves Mersch:  Introductory remarks for the discussion panel ‘The Future of the Euro’
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Ambrosetti Forum ‘Intelligence on the World, Europe, and Italy’ Villa d’Este, Cernobbio, 3 September 2016
31/8/2016
Peter Praet:  Financial cycles and monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, in the context of a panel on “International Monetary Policy”, Beijing, 31 August 2016
27/8/2016
Benoît Cœuré:  The ECB's operational framework in post-crisis times
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Federal Reserve Bank of Kansas City’s 40th Economic Policy Symposium, Jackson Hole, 27 August 2016
16/8/2016
Benoît Cœuré:  Further strengthening the resilience of financial plumbing
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, and chairman of the Committee on Payments and Market Infrastructures (CPMI), and Ashley Alder, chairman of the board of the International Organization of Securities Commissions (Iosco), published by the Financial Times, 16 August 2016
28/7/2016
Benoît Cœuré:  Assessing the implications of negative interest rates
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Yale Financial Crisis Forum, Yale School of Management, New Haven, 28 July 2016
7/7/2016
Sabine Lautenschläger:  European Banking Supervision – Business model analysis
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the CEO/CFO/CRO-Roundtable, Madrid, 7 July 2016
5/7/2016
Sabine Lautenschläger:  Central bank statistics: moving beyond the aggregates
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Eighth ECB Statistics Conference, Frankfurt am Main, 5 July 2016
1/7/2016
Peter Praet:  Transmission channels of monetary policy in the current environment
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Financial Times Festival of Finance, London, 1 July 2016
29/6/2016
Yves Mersch:  Opening remarks at the Academy of European Law
Speech by Yves Mersch, Member of the Executive Board of the ECB, Luxembourg, 29 June 2016
23/6/2016
Yves Mersch:  Monetary policy in the euro area: scope, principles and limits
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at the Natixis Meeting of Chief Economists, Paris, 23 June 2016
20/6/2016
Sabine Lautenschläger:  Sponsors dinner of the European Cultural Days
Dinner speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, on the occasion of a get-together of friends and supporters of the European Cultural Days organised in cooperation with Deutsche Bundesbank, Frankfurt am Main, 20 June 2016
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17/6/2016
Benoît Cœuré:  Structural reforms on the way to a complete Economic and Monetary Union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the International Conference on Structural Reforms in Advanced Economies, Hertie School of Governance, Berlin, 17 June 2016
16/6/2016
Yves Mersch:  Unkonventionelle Geldpolitik – eine ordnungspolitische Würdigung
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, Albert-Ludwigs-Universität Freiburg, den 16. Juni 2016
14/6/2016
Yves Mersch:  Grasping the new normal of the banking industry – a view from a European Central Banker
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the European Financial Congress, Sopot, Poland, 14 June 2016
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7/6/2016
Yves Mersch:  Making Europe’s financial market infrastructure a bulwark of financial stability (speaking points)
Yves Mersch, Member of the Executive Board of the ECB, Banque de France/Sciences Po research seminar: Financial stability in a digital world, Paris, 7 June 2016
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6/6/2016
Benoît Cœuré:  Towards a macroprudential framework for central counterparties
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a policy panel discussion on the progress with new macroprudential instruments at the ESRB international conference on macroprudential margins and haircuts, Frankfurt am Main, 6 June 2016
1/6/2016
Sabine Lautenschläger:  European banking supervision – much achieved, but still much to do
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, Bundesbanksymposium "Dialogue on banking supervision", Frankfurt am Main, 1 June 2016
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11/5/2016
Benoît Cœuré:  Les décisions de la BCE depuis la crise : un tour d’horizon
Presentation by Benoît Cœuré, Member of the Executive Board of the ECB, at La Cour des comptes, Paris, 11 mai 2016
5/5/2016
Yves Mersch:  Bares bleibt Wahres
Gastbeitrag von Yves Mersch, Mitglied des Direktoriums der EZB, Spiegel Online, 5. Mai 2016
3/5/2016
Benoît Cœuré:  Government bond markets in a changing environment
Keynote address by Benoît Cœuré, Member of the Executive Board of the ECB, at the Government Borrowers Forum, Paris, 3 May 2016

Summary

Government bond markets in a changing environment

Keynote address by Benoit Coeuré, Member of the Executive Board of the ECB, at the Government Borrowers Forum, Paris, 3 May 2016

In a keynote address at the Government Borrowers Forum, in Paris, ECB Board member Benoît Coeuré analyses the impact of recent policy interventions on market functioning. His remarks focus on unconventional monetary policy measures, regulatory developments and private-public partnership in financial market reforms. «Policy interventions are having an impact on market functioning today» he says, but in the case of the ECB’s monetary policy, «ongoing monitoring so far does not suggest impairments to the price discovery process» and «our monetary policy has not suppressed market discipline». The new market environment is more constrained, but also more resilient. «At the same time, more safety is not a substitute but a complement to well capitalised banks and sound public finances» he concludes.

2/5/2016
Sabine Lautenschläger:  The euro – idea and reality
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Europa Forum Luzern, Luzern, 2 May 2016
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1/5/2016
Benoît Cœuré:  People are not only savers
Opinion piece from Benoît Cœuré, Member of the Executive Board of the ECB, for the Frankfurter Allgemeine Sonntagszeitung, 1 May 2016
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25/4/2016
Yves Mersch:  Distributed ledger technology – panacea or flash in the pan?
Speech by Yves Mersch, Member of the Executive Board of the ECB, at Deutsche Bank Transaction Bankers' Forum 2016, Frankfurt am Main, 25 April 2016
25/4/2016
Peter Praet:  Presentation at Banco de España conference
Remarks by Peter Praet, Member of the Executive Board of the ECB, at a conference in tribute to José Luis Malo de Molina, Madrid, 25 April 2016
9/4/2016
Yves Mersch:  Scope and Limits of Monetary Policy
Introductory remarks by Yves Mersch, Member of the Executive Board of the ECB, at panel “Europe’s Economic and Monetary Policy” during the Ambrosetti Conference on the Outlook for the Economy and Finance, Villa d’Este, Cernobbio, 9 April 2016
7/4/2016
Peter Praet:  The ECB’s monetary policy response to disinflationary pressures
Speech by Peter Praet, Member of the Executive Board of the ECB, at ECB and Its Watchers XVII conference organised by Center for Financial Studies, Frankfurt, 7 April 2016
4/4/2016
Peter Praet:  The ECB's fight against low inflation: reasons and consequences
Speech by Peter Praet, Member of the Executive Board of the ECB, at Luiss School of European Political Economy, Rome, 4 April 2016
22/3/2016
Yves Mersch:  Shaping the future of Europe’s financial 
market infrastructure
Opening remarks by Yves Mersch, Member of the Executive Board of the ECB, at the Information session on the consultative report on RTGS services, Frankfurt am Main, 22 March 2016
21/3/2016
Benoît Cœuré:  The future of the euro area
Remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at Le Cercle Europartenaires, Paris, 21 March 2016
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2/3/2016
Benoît Cœuré:  A budgetary capacity for the euro area
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a public hearing at the European Parliament, Brussels, 2 March 2016
2/3/2016
Benoît Cœuré:  From challenges to opportunities: rebooting the European financial sector
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, at SZ (Süddeutsche Zeitung) Finance Day 2016, Frankfurt am Main, 2 March 2016
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1/3/2016
Sabine Lautenschläger:  Navigating uncertainty – governance, risk management and leveraged finance
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the ECB’s Supervisory Board, at the 17th Annual Risk Management Convention by the Global Association of Risk Professionals, 1 March 2016, New York
22/2/2016
Sabine Lautenschläger:  Caught in the middle? Small and medium-sized banks and European banking supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the ECB’s Supervisory Board, at the Banking Evening of the Deutsche Bundesbank Regional Office in Baden-Württemberg, Stuttgart, 22 February 2016
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16/2/2016
Yves Mersch:  Oral hearing of the Federal Constitutional Court 16 February 2016 in the OMT proceedings
Speech by Yves Mersch, Member of the Executive Board of the ECB, Introductory statement of the European Central Bank, Karlsruhe, 16 February 2016
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10/2/2016
Peter Praet:  The ECB and its role as lender of last resort during the crisis
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Committee on Capital Markets Regulation conference on The lender of last resort – an international perspective, Washington DC, 10 February 2016
4/2/2016
Yves Mersch:  Policy needs, knowns and unknowns in the aftermath of the crisis
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at UBS, Zurich, 4 February 2016
1/2/2016
Benoît Cœuré:  Time for a new Lamfalussy moment
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Professor Lamfalussy Commemorative Conference, Budapest, 1 February 2016
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Summary

Time for a new Lamfalussy moment

Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Professor Lamfalussy Commemorative Conference, Budapest, 1 February 2016

Recalling the crucial contribution of Alexandre Lamfalussy to European integration, Benoît Cœuré calls for a new method to accelerate this process at a commemorative conference in Budapest today. The fact that Europe is facing so many challenges should not discourage Member States from integrating further. On the contrary, says Benoît Cœuré, countries sharing the euro should show they are able to go forward in a unified manner. A successful euro area is crucial for a successful European Union. A strong political commitment to complete the Economic and Monetary Union (EMU) is also needed to strengthen the recovery and spur investment. It will show the public, business and markets that we are serious about make the euro a success. In the end, there will be no sustainable economic convergence without a political convergence, which implies a common understanding of what economic and fiscal policies look like in a monetary union. This is a root cause of why the spirit of the common rules is not sufficiently implemented. The moment has come to structure the process of integration in a new manner. This means putting the debate on European integration back where it belongs – in the political arena.

27/1/2016
Sabine Lautenschläger:  Single Supervisory Mechanism – Single Supervisory Law?
Keynote speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, at the Workshop of the European Banking Institute (EBI) hosted by the ECB, Frankfurt, 27 January 2016
27/1/2016
Yves Mersch:  Current developments in the German banking market
Speech by Yves Mersch, Member of the Executive Board of the ECB, at an event organised by the Bayerischer Sparkassenverband, Munich, 27 January 2016
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27/1/2016
Benoît Cœuré:  The importance of independent fiscal councils
Opening remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the workshop on “Fiscal councils, central banks and sound public finances”, Frankfurt am Main, 27 January 2016

Summary

The importance of independent fiscal councils

Opening remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the workshop on “Fiscal councils, central banks and sound public finances”, Frankfurt am Main, 27 January 2016

Setting the stage for a workshop at the ECB on fiscal councils, central banks and sound public finances, Benoît Cœuré underlines in his opening remarks that sound public finances in all euro area member countries is a precondition for completing Economic and Monetary Union. Even if these days “there is no appetite for moving towards a ‘United States of Europe’”, he says, “there is a common understanding” that euro area member countries need to further integrate their fiscal and economic policies. Benoît Cœuré focuses on the requirements that need to be met for national fiscal councils and the European Fiscal Board (EFB) to be fully effective. “Independence” is the key word at both national and European levels. The EFB is also charged with the important task of coordinating fiscal policy in the euro area to avoid pro-cyclical fiscal policies. “At this juncture using fiscal space would speed up the euro area’s return to growth and support the ECB’s objective of medium-term price stability”, says Benoît Cœuré. “But, in many countries, such fiscal space simply does not exist, because rules have not been enforced in the past. Setting up independent institutions such as the fiscal councils at the national level and the EFB at the European level could prove to be a decisive step in this direction.”

25/1/2016
Sabine Lautenschläger:  Remarks on the collection of credit data (AnaCredit)
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs (ECON) at the European Parliament, Brussels, 25 January 2016
18/1/2016
Yves Mersch:  Growth potential and competition – what lies ahead for card payments?
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Banque de France Conference on card payments in Europe – latest trends and challenges, Paris, 18 January 2016
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15/1/2016
Benoît Cœuré:  Rebalancing in the euro area: are we nearly there yet?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Danish Economic Society, Kolding, 15 January 2016

Summary

Rebalancing in the euro area: are we nearly there yet?

Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Danish Economic Society, Kolding, 15 January 2016

Imbalances have fuelled the euro area crisis. Sustainable rebalancing is key to ensuring growth and stability in the euro area. It is also key to completing our monetary union, because the political will needed to achieve this project will not exist unless economic divergences are first ironed out.

Sustainable rebalancing requires that adjustment is stable, symmetrical and structural.

Since the crisis we have seen considerable improvements, especially in the countries that entered the crisis with large current account deficits. Deficits in the (former) programme countries have adjusted dramatically. Costs adjustments have also taken place in surplus countries.

But the rebalancing process has not yet reached its steady state.

In several stressed countries adjustment was achieved through lower potential growth. Employment is still more than 10% below 2008 levels. Achieving both external rebalancing and high employment requires a better reallocation of available resources and higher productivity. The Capital Markets Union and completing the single market for services are two ways forward. Seeing rebalancing as all about cutting costs – which is what policymakers often think of as “competitiveness” – is misguided.

Surplus countries also have a contribution to make to rebalancing the euro area. Demand-side policies in these countries would support euro area price stability, but would have a very limited long-term impact. A combination of higher public investment and structural reforms to create incentives for increased private investment would address both external imbalances and the domestic challenges of weak investment and low potential growth.

The full potential of using the Macroeconomic Imbalance Procedure has so far not been realised and its corrective arm should be used forcefully. Euro area countries still have a way to go to make rebalancing sustainable. Doing so is not only essential for their own stability and growth. Ultimately, it is economic divergence that fuels political divergence, which is what makes the euro area so fragile.

13/1/2016
Sabine Lautenschläger:  After one year of European banking supervision, have expectations been met?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Austrian Bankers’ Business Lunch, Frankfurt, 13 January 2016
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13/1/2016
Benoît Cœuré:  Cyber resilience for financial market infrastructures
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the workshop on the CPMI-IOSCO Guidance on Cyber Resilience for Financial Market Infrastructures, Frankfurt, 13 January 2016
13/1/2016
Peter Praet:  The ECB’s monetary policy: back to medium-term price stability of below, but close to, 2%
Opinion piece by Peter Praet, ECB Executive Board member, Süddeutsche Zeitung, 13 January 2016
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12/1/2016
Sabine Lautenschläger:  Einheitlicher Aufsichtsmechanismus. Das erste Jahr – die ersten Erfolge (Präsentationsfolien)
Vortrag von Sabine Lautenschläger, Mitglied des Direktoriums der EZB und stellvertretende Vorsitzende des Aufsichtsgremiums des einheitlichen Aufsichtsmechanismus, Zonta Club Frankfurt am Main, 12. Januar 2016
11/12/2015
Peter Praet:  The transmission of recent non-standard measures
Speech by Peter Praet, Member of the Executive Board of the ECB, Joint BoE, ECB, CEPR and CFM Conference on Credit Dynamics and the Macroeconomy; London, 11 December 2015
9/12/2015
Sabine Lautenschläger:  Single Supervisory Mechanism - Achievements after one year
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the Eleventh High-level Meeting for the Middle East & North Africa Region: Global Banking Standards and Regulatory and Supervisory Priorities, Abu Dhabi, 9 December 2015
3/12/2015
Yves Mersch:  Auf neuen Wegen zum alten Ziel
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, Ludwig-Maximilians-Universität, München, den 03. Dezember 2015
23/11/2015
Sabine Lautenschläger:  Stormy times – how is the ECB handling them?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory at the 2015 - General Assembly of the Bavarian Economic Advisory Committee, Munich, 23 November 2015
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21/11/2015
Benoît Cœuré:  Paradigm lost: Rethinking international adjustments
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Egon and Joan von Kashnitz Lecture, Clausen Center for International Business and Policy, Berkeley, 21 November 2015

Summary

Paradigm lost: Rethinking international adjustments

Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Clausen Center for International Business and Policy, Berkeley, 21 November 2015

Central banks today operate in a highly interconnected world. They need a profound understanding of the international macroeconomics adjustment process. The research community can help policy makers answering their fundamental questions about globalization and shaping their response in terms of governance and regulation.

During the past two decades, policy discussion in fora such as the IMF, G7 or G20 have been predicated on three key assumptions about that process: reallocation of aggregate demand across economies would sustain an appropriate pace of global growth; freely floating exchange rates would support such demand and act as shock absorbers; and cross border capital flows make international adjustment smoother and improve the global allocation of capital.

But recent theoretical and empirical research has started deconstructing these three assumptions. First, the capacity of the global economy to generate growth is under question. In a global zero lower bound environment, surplus countries hold world output down. Second, global interconnectedness seems to have altered the shock absorbing role of floating exchange rates. And finally, academics have questioned the resource allocation and risk-sharing benefits of cross-border capital flows, while capital controls, or as recently dubbed capital flow management measures, are once again part of the policy discussion.

In light of these discussions, is there a case for rethinking international macro adjustments and the functioning of the International Monetary System? And can we shape financial regulation in a way to reap the benefits of a global financial integration? The way academics and policy makers address those open issues in international economics will condition the resilience of the global economic system, i.e. its capacity to return to equilibrium without policy intervention. This is of key importance to central bankers. If we ignore those issues, there is a risk that monetary policies may become ineffective, overburdened, and/or collectively trapped in a suboptimal equilibrium.

19/11/2015
Peter Praet:  Monetary policy under uncertainty
Speech by Peter Praet, Member of the Executive Board of the ECB, at the FAROS Institutional Investors Forum during the 18th Euro Finance Week 2015, Frankfurt, 19 November 2015
18/11/2015
Sabine Lautenschläger:  The SSM after one year
Keynote speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the IIF Colloquium on European Banking Union, Frankfurt, 18 November 2015
18/11/2015
Yves Mersch:  Keynote speech Euro Finance Week
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, Frankfurt, 18 November 2015
17/11/2015
Sabine Lautenschläger:  Qualitative and quantitative banking supervision
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the conference “Banking Supervision, Resolution and Risk Management” during the 18th Euro Finance Week 2015, Frankfurt, 17 November 2015
16/11/2015
Yves Mersch:  “A currency beyond the nation state: 
The euro and its institutional challenges ahead”
Dinner speech by Yves Mersch, Member of the Executive Board of the ECB, at Société d’Economie Politique, Paris, 16 November 2015
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12/11/2015
Yves Mersch:  Three challenges for the banking sector
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the European Financial Forum dinner, 2015 Cumberland Lodge Financial Services Summit, Cumberland Lodge, 12 November 2015
11/11/2015
Yves Mersch:  Elemente des Entwurfs des Aktionsplans zur Schaffung einer Kapitalmarktunion
Stichpunkte des Redebeitrags von Yves Mersch, Mitglied des Direktoriums der EZB, anlässlich einer Mittagsveranstaltung bei der Commerzbank, Berlin am 11. November 2015
6/11/2015
Peter Praet:  Monetary policy as information processing (slides from the presentation)
Speech by Peter Praet, Member of the Executive Board of the ECB, 3rd Frankfurt Conference on financial market policy – Digitizing finance, organised by SAFE Policy Center, Frankfurt am Main, 6 November 2015
6/11/2015
Yves Mersch:  View of a Central Banker on the Future of Banking
Speech by Yves Mersch, Member of the Executive Board of the ECB, at Slovenian Banking Day, Brdo, 6 November 2015
4/11/2015
Sabine Lautenschläger:  Looking ahead - Closing Remarks at the ECB Forum on Banking Supervision
Closing remarks by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the SSM Banking Supervision Forum, 4 November 2015
2/11/2015
Sabine Lautenschläger:  One year of SSM
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at an international conference on "One year of SSM effective and efficient supervision in a volatile world?" organised by the Institute of Law and Finance, Frankfurt, Germany, 2 November 2015
2/11/2015
Benoît Cœuré:  The international regulatory agenda on CCP links
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the ESRB workshop on CCP interoperability arrangements, 2 November 2015
27/10/2015
Benoît Cœuré:  The monetary policy of the ECB (slides from the presentation)
Presentation by Benoît Cœuré, Member of the Executive Board of the ECB, at Instituto Tecnológico Autónomo de México (ITAM) in Mexico City, 27 October 2015
26/10/2015
Yves Mersch:  Challenges of retail payments innovation
Speech by Yves Mersch, Member of the Executive Board of the ECB, at Belgian Financial Forum organised by the National Bank of Belgium, Brussels, 26 October 2015
20/10/2015
Sabine Lautenschläger:  Highlights of European Statistics by the ESCB – present and future
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at World Statistics Day 2015, 20 October 2015
16/10/2015
Benoît Cœuré:  Towards a political convergence process in the euro area
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Interparliamentary Conference “Towards a Progressive Europe”, Berlin, 16 October 2015
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Summary

The effectiveness of the ECB’s action rests on the "M" in the EMU being kept free from political interference. But for this to be secured in a lasting way, we need to further develop the "E", i.e. the economic union.

In the past decade, intermediate solutions to save the euro area were found, but left the EMU still vulnerable to future crises. Therefore, we need to define a new convergence process, involving converging economic structures and more integrated markets. This should be complemented by fully legitimate institutions with the right instruments to intervene if the consensus is not respected.

This new convergence process will lead to higher resilience against economic shocks on a national level and European level, via internal and euro-wide adjustment mechanisms. And it is a prerequisite before discussing a layer of fiscal stabilisation at the European level, which would protect monetary policy from bearing too much of the stabilisation burden.

But such a new convergence process cannot be a technical exercise. For convergence to be lasting and to secure the buy-in of citizens and Member States, such a process needs to be political in nature. This requires a revived political narrative for euro area integration, and a coherent European social contract that brings out the best in each national social contract.

14/10/2015
Yves Mersch:  The future of Europe’s financial market infrastructure: the Eurosystem’s Vision 2020
Speech by Yves Mersch, Member of the Executive Board of the ECB, Singapore, 14 October 2015
13/10/2015
Yves Mersch:  Speech at MNI Connect event
Speech by Yves Mersch, Member of the Executive Board of the ECB, Singapore, 13 October 2015
11/10/2015
Sabine Lautenschläger:  Fostering global growth
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the panel during the G30 International Banking Seminar, Lima, Peru, 11 October 2015
8/10/2015
Peter Praet:  EMU – disappointed expectations and how to move forward
Remarks by Peter Praet, Member of the Executive Board of the ECB, at the 5th SEEK Conference on “Overcoming the Crisis: How to Foster Innovation and Entrepreneurship in a Diverging European Economy?”, Mannheim, 8 October 2015
2/10/2015
Benoît Cœuré:  The international role of the euro: concepts, empirics and prospects
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at Saint Joseph University, Beirut, 2 October 2015
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1/10/2015
Peter Praet:  Presentation at the Asset Management Conference organised by the Bundesverband Investment and Asset Management
Peter Praet, Member of the Executive Board of the ECB, Frankfurt am Main, 1 October 2015
29/9/2015
Yves Mersch:  Means of payments and SMEs: where are we heading?
Speech by Yves Mersch at the dinner debate organised by the Think tank Etienne Marcel, at the restaurant du Sénat, Palais du Luxembourg, Paris, 29 September 2015
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28/9/2015
Sabine Lautenschläger:  Reintegrating the banking sector into society: earning and re-establishing trust
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the 7th International Banking Conference “Tomorrow’s bank business model – How far are we from the new equilibrium” organised by Bocconi University in Milan, 28 September 2015
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24/9/2015
Peter Praet:  Monetary policy lessons from the financial crisis: some remarks
Dinner speech by Peter Praet, Member of the Executive Board of the ECB, at the SNB Research Conference organised by the Swiss National Bank, Zurich, 24 September 2015
23/9/2015
Peter Praet:  Remarks at the FIBI Annual Lunch
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Federation of International Banks in Ireland (FIBI), Dublin, 23 September 2015
21/9/2015
Peter Praet:  Current issues on economic policy: The low interest rate environment in the euro area (slides from the presentation)
Public lecture by Peter Praet, Member of the Executive Board of the ECB on “Current issues on economic policy” organised by International Center for Monetary and Banking Studies in Geneva, 21 September 2015
10/9/2015
Peter Praet:  The low interest rate environment in the euro area
Keynote speech by Peter Praet, Member of the Executive Board of the ECB, at a Pension Funds Conference organised by De Nederlandsche Bank in Bussum, The Netherlands, 10 September 2015
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10/9/2015
Yves Mersch:  Medium to long-term priorities of Capital Markets Union (CMU) for the ECB/Eurosystem
Panel remarks by Yves Mersch, Member of the Executive Board of the ECB, at the Eurofi conference in Luxembourg, 10 September 2015
10/9/2015
Benoît Cœuré:  Addressing global data availability challenges
Panel remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the Eurofi Financial Forum 2015, Luxembourg, 10 September 2015
9/9/2015
Peter Praet:  The ECB’s asset purchase programme: the impact so far
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Eurofi conference in Luxembourg, 9 September 2015
27/8/2015
Benoît Cœuré:  Drawing lessons from the crisis for the future of the euro area
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at “Ambassadors Week”, Paris, 27 August 2015
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14/7/2015
Yves Mersch:  Ways towards more dynamic growth
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the DZ BANK Kapitalmarktkonferenz 2015, Frankfurt, 14 July 2015
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2/7/2015
Yves Mersch:  Translating a shared vision into a winning story
Closing Remarks at the T2S launch celebration by Yves Mersch, Member of the Executive Board of the ECB, Milan, 2 July 2015
30/6/2015
Peter Praet:  The APP impact on the economy and bond markets
Intervention by Peter Praet, Member of the Executive Board of the ECB, at the annual dinner of the ECB’s Bond Market Contact Group, Frankfurt am Main, 30 June 2015
25/6/2015
Yves Mersch:  On European Unity: Economic and Institutional Challenges Facing Europe
Speech by Yves Mersch, Member of the Executive Board of the ECB, Discussant Prof. Hannah Scobie, Chairman, European Economics & Financial Centre, European Economics & Financial Centre, London, 25 June 2015
16/6/2015
Yves Mersch:  Introductory statement on TARGET2-Securities (T2S) before the Committee on Economic and Monetary Affairs (ECON)
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Public Hearing on TARGET2-Securities (T2S) before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament Brussels, 16 June 2015
15/6/2015
Peter Praet:  Structural reforms and long-run growth in the euro area
Intervention by Peter Praet, Member of the Executive Board of the ECB, on panel “Long-run growth, monetary policy and financing of the economy” at 43rd Economics Conference of Oesterreichische Nationalbank Vienna, 15 June 2015

Summary

Structural reforms and long-run growth in the euro area

Intervention by Peter Praet, Member of the Executive Board of the ECB,
on panel “Long-run growth, monetary policy and financing of the economy” at 43rd Economics Conference of Oesterreichische Nationalbank
Vienna, 15 June 2015

As the ECB’s accommodative monetary policy is playing its part in the euro area recovery, structural reforms are the domain where there is more still to do to create the conditions for sustainable long-run growth, which is critical to the integrity of our monetary union. There is however no “one size fits all” model for how countries should go about tackling structural challenges. While there are principles that apply across countries, each economy is different and reforms have to be tailored to national conditions. As a central bank, our interest is not in how countries implement reforms, but whether they succeed in doing so.

There are two main channels through which structural reforms can support long-run growth in the euro area, namely through increasing the adjustment capacity of the economy and through raising its potential growth rate. Put differently, reforms can raise both the trend of long-run growth and reduce the fluctuations around that trend. Both aspects are particularly important in a monetary union, which makes structural reforms commensurately more pressing. The environment for introducing structural reforms is better today than for several years: all the conditions are in place for governments in the euro area, individually and collectively, to begin addressing their long-term challenges.

11/6/2015
Yves Mersch:  Capital Markets Union: Optimising investment and financing conditions, increasing resilience
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Morgan Stanley Global Investment Seminar, Terre Blanche, Provence 11 June 2015
4/6/2015
Yves Mersch:  Getting the balance right: innovation, trust and regulation in retail payments
Introductory speech by Yves Mersch, Member of the Executive Board, European Central Bank at the joint European Central Bank/Suomen Pankki Conference, Helsinki, 4 June 2015
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19/5/2015
Benoît Cœuré:  How binding is the zero lower bound?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the conference “Removing the zero lower bound on interest rates”, organised by Imperial College Business School / Brevan Howard Centre for Financial Analysis, CEPR and the Swiss National Bank, London, 18 May 2015

Summary

How binding is the zero lower bound?

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at the conference “Removing the zero lower bound on interest rates”, organised by Imperial College Business School / Brevan Howard Centre for Financial Analysis, CEPR and the Swiss National Bank,
London, 18 May 2015

The notion of an effective lower bound on policy interest rates that is lower than zero has become a concrete concern for monetary policy. While the effective lower bound for short-term rates exists, it does not impose a binding constraint on the effectiveness of monetary policy. There are tools for dealing with the lower bound constraint, which at the ECB go under the name of “non-standard monetary policy measures”. We saw that the short-term interest rate going below zero does not pose difficulties for monetary policy.
While removing the effective lower bound by abolishing cash can be envisaged, such a step should be the outcome of changing technologies and social perceptions, not of policy prescriptions. Also political capital could be better spent on structural reforms of euro area economies, which would raise the natural real rate of interest and thereby make the lower bound less of a constraint.

18/5/2015
Yves Mersch:  Swedbank Economic Outlook Seminar
Speech by Yves Mersch, Member of the Executive Board of the ECB, Stockholm, 18 May 2015
13/5/2015
Benoît Cœuré:  Consolidating the euro area’s economic recovery
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, prior to an informal exchange of views with the European Affairs Committee and the Finance Committee of the National Assembly, Paris, 13 May 2015
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13/5/2015
Benoît Cœuré:  Domestic and cross-border spillovers 
of unconventional monetary policies
Remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the at the SNB-IMF Conference "Monetary Policy Challenges in a Changing World", Zurich, 12 May 2015

Summary

Domestic and cross-border spillovers of unconventional monetary policies

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at the at the SNB-IMF Conference "Monetary Policy Challenges in a Changing World",
Zurich, 12 May 201

Discussion has recently emerged on the global financial market implications of diverging monetary policy cycles. Central banks in large advanced economies can free themselves from the global financial cycle and regain monetary independence, provided that they show clarity in purpose and resolve in implementation. The global exchange rate adjustments should be therefore seen as a natural by-product of such move towards monetary policy independence and divergence. Monetary policy always has unintended consequences, no matter where it is pursued. At the ECB we take our decisions with a view to attaining our primary objective of price stability. But without prejudice to this objective, we take financial stability risk seriously and monitor closely whether severe imbalances are emerging in the financial sector.

24/4/2015
Yves Mersch:  Dinner speech at EUI-NOMICS
Speech by Yves Mersch, Member of the Executive Board of the ECB, at EUI-NOMICS, Florence, 24 April 2015
23/4/2015
Peter Praet:  Lifting potential growth in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Welt-Währungskonferenz, Berlin, 23 April 2015
21/4/2015
Sabine Lautenschläger:  Monitoring, regulation and self-regulation in the European banking sector
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at the evening reception at the Deutsche Aktieninstitut in Frankfurt am Main, 21 April 2015.
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16/4/2015
Peter Praet:  Price stability: a sinking will-o'-the-wisp?
Intervention by Peter Praet, Member of the Executive Board of the ECB, during a panel on “The elusive pursuit of inflation” at the IMF Spring Meetings Seminar, Washington, 16 April 2015
11/4/2015
Benoît Cœuré:  Ensuring an adequate loss-absorbing capacity of central counterparties
Special invited lecture by Benoît Cœuré, Member of the Executive Board of the ECB, at the Federal Reserve Bank of Chicago 2015 Symposium on Central Clearing, Chicago, 10 April 2015
30/3/2015
Benoît Cœuré:  Rencontres économiques lycéennes (Transparents de la présentation)
Benoît Cœuré, membre du directoire de la BCE, 20ème édition des Rencontres économiques de Pontault-Combault 30 mars 2015
23/3/2015
Benoît Cœuré:  Introductory remarks
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the press conference on the closing of the EU-funded technical cooperation programme with the Central Bank of Montenegro, in Podgorica, Montenegro on 23 March 2015
18/3/2015
Benoît Cœuré:  What is the goal of the Capital Markets Union?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at a conference "The European Capital Markets Union, a viable concept and a real goal?" organised by the Institute for Law and Finance in Frankfurt on 18 March 2015
16/3/2015
Sabine Lautenschläger:  How can prudential regulation foster growth?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, at Frankfurt Finance Summit, Frankfurt am Main, 16 March 2015

Summary

How can prudential regulation foster growth?

Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the Single Supervisory Mechanism, Frankfurt am Main, 16 March 2015

Supervisors can contribute to sustainable economic growth by ensuring that supervised entities are resilient to plausible shocks, properly managed, adequately capitalised and subject to an efficient risk management and the right incentives. The European Single Supervisory Mechanism takes a medium to long-term perspective on this, resisting those who argue for short-term relief. The SSM ensures that banks can deliver in their tasks in all phases of the economic cycle and thus are able to provide the economy with the financial services that corporations, smaller firms and citizens need.

12/3/2015
Benoît Cœuré:  La politique monétaire dans la zone euro
Intervention de Benoît Cœuré, membre du directoire de la BCE, à la conférence organisée par l’Association des Journalistes Économiques e Financiers (AJEF), Paris, le 12 mars 2015
11/3/2015
Peter Praet:  Public sector security purchases and monetary dominance in a monetary union without a fiscal union
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Conference The ECB and Its Watchers XVI, Contribution to the Panel on Low-interest-rate Policy and Non-standard Monetary Policy Measures: Effectiveness and Challenges, Frankfurt am Main, 11 March 2015

Summary

Public sector security purchases and monetary dominance in a monetary union without a fiscal union

Speech by Peter Praet, Member of the Executive Board of the ECB,
Frankfurt am Main, 11 March 2015

The Governing Council decision to start purchases of public sector securities has demonstrated its ability to meet the mandate of price stability and bring inflation rates back to levels below but close to 2 percent. With this policy, it makes full use of all legal and effective monetary policy instruments. The design of such purchases has taken into account the specificities of the institutional set-up, notably the fact that the euro area is a monetary union that is not a fiscal union. This is an assertion of monetary dominance, in compliance with the principles enshrined in the Maastricht Treaty.

Nevertheless the overall success of the euro area depends on all stakeholders doing their job.

10/3/2015
Benoît Cœuré:  Embarking on public sector asset purchases
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Second International Conference on Sovereign Bond Markets, Frankfurt, 10 March 2015

Summary

Embarking on public sector asset purchases

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at the Second International Conference on Sovereign Bond Markets,
Frankfurt, 10 March 2015

On 9 March the Eurosystem launched its public sector purchase programme (PSPP). On that day the ECB and the national central banks of the euro area purchased €3.2 billon of public sector bonds, putting the programme on track to reach a total of €60 billion in March. Monetary policy is implemented in normal times in money markets. Stepping into bond markets creates challenges and might have unintended consequences. One key principle underlying the implementation of the PSPP is the minimisation of unintended consequences, which can be ensured by obeying the concept of market neutrality. We do want to affect market prices but we will not suppress the price discovery mechanism. The Eurosystem will ensure a high degree of transparency around its interventions and will closely monitor their impact on market liquidity and collateral availability. Some market reports have suggested that we may not be able to buy the intended amounts of government bonds. While the effective supply of eligible securities is undoubtedly lower than the total amount outstanding, it will still be substantially higher than the amounts we intend to purchase. If this is the case, there will be a price at which we can buy the quantities needed to meet our monthly targets. In other words, we may face a scarcity of bonds, but we won't face a shortage. And there are good reasons to expect that scarcity will materialise first and foremost in those market segments with a higher duration, potentially helping to maximise the economic impact of our operations.

10/3/2015
Yves Mersch:  The Future of Banking – a Central Banker’s view
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Economist Future of Banking Summit in Paris, 10 March 2015
12/2/2015
Peter Praet:  Economic Developments in the Euro Area
Speech by Peter Praet, Member of the Executive Board of the ECB, at the FT Debt Capital Markets Outlook Conference in London, 12 February 2015

Summary

Economic Developments in the Euro Area

Speech by Peter Praet, Member of the Executive Board of the ECB,
at the FT Debt Capital Markets Outlook Conference in London,
12 February 2015

Given the “gap” between inflation projections and our policy objective, we decided to launch an expanded asset purchase programme. We had to act because the inflation outlook had deteriorated, while our previous measures had not worked as effectively as we expected. In this environment our decision was fully consistent with our reaction function, which we had communicated last year, and it was only natural for markets to anticipate our move. Indeed faced with an increasing risk of a too prolonged period of low inflation, we intensified our stimulus to a degree necessary to bring inflation closer to 2%. We did it in line with our mandate and price stability objective. And I have no doubt that the measures we took will bring the intended effects.

2/2/2015
Benoît Cœuré:  Lamfalussy was right: independence and interdependence in a monetary union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at Lamfalussy Lecture Conference organised by Magyar Nemzeti Bank in Budapest, 2 February 2015

Summary

Lamfalussy was right: independence and interdependence in a monetary union

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at Lamfalussy Lecture Conference organised by Magyar Nemzeti Bank in Budapest,
2 February 2015

Decision-makers in different policy areas act independently and are at the same time interdependent. Managing interdependence requires strong framework: “monetary dominance” is the framework in the euro area in which the central bank acts in independence and fiscal policies are constrained in the SGP.

The crisis in Europe has shown that policy interactions can be more subtle and involve also financial and structural policies. Monetary policy becomes more effective in impacting the real economy if other policies act in support. If not, it has less impact and expansionary policy has to last longer.

An example for interdependence between monetary and financial policies (micro level) is if supervisors show too much forbearance to undercapitalized banks, central bank funding may end up being used to fill the gap. Fiscal policies can also become overburdened if they need to smoothen the economic cycle and at the same time stabilize the banking sector. Banking union has been there one answer to the crisis. European supervision helps align the governance of the financial sector with the aims of monetary policy. And the resolution leg creates rules that limit the link between fiscal policies and the banking sector; bail-in replaces bail-out by governments and taxpayers.

The interaction between structural reforms and fiscal policies is clear: if product and labour markets are resilient and flexible, there is less need for fiscal intervention. Constantly refining fiscal rules while leaving structural policies at the national level makes little sense. If fiscal policies are to be freed from structural dominance, strong framework for both is needed. Today structural reforms are their own reward. Tomorrow sovereignty over structural reforms should be shared between countries, allowing for symmetric risk sharing.

25/1/2015
Yves Mersch:  Advancing Monetary Union
Speech by Yves Mersch, Member of the Executive Board of the ECB, Euro Exhibition Osnabrück, 25 January 2015
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19/12/2014
Peter Praet:  Is the ECB doing enough?
Opinion piece by Peter Praet, Member of the Executive Board of the ECB, for Project Syndicate, 19 December 2014
9/12/2014
Peter Praet:  Current issues in monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Peterson Institute for International Economics in Washington, DC, 9 December 2014

Summary

Current issues in monetary policy

Speech by Peter Praet, Member of the Executive Board of the ECB,
at the Peterson Institute for International Economics in Washington, DC,
9 December 2014

The ECB has responded forcefully to counter growing risks of a too prolonged period of low inflation. The current set of measures will enhance our monetary policy stance, incentivise bank lending, overcome remaining impairments in our transmission mechanism and underpin the firm anchoring of medium- to longer-term inflation expectations. Tentative evidence suggests that our credit easing package is delivering some tangible first benefits. But we need to remain vigilant as to whether the force of monetary stimulus already in the pipeline remains sufficient to reach our objective. If needed, one option for the ECB to ease the monetary policy stance further would be to extend its asset purchases towards other asset classes. Purchases of different asset classes will affect private sector financing conditions to varying degrees as they will activate different transmission channels and affect different spread components.

29/11/2014
Sabine Lautenschläger:  How innovative should central banks be?
Keynote speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at Wirtschaftsgipfel 2014 “Wirtschaft neu denken – die Kraft der Innovation” organised by Süddeutsche Zeitung in Berlin, 29 November 2014
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24/11/2014
Benoît Cœuré:  Central counterparty recovery and resolution
Keynote Speech by Benoît Cœuré, Member of the Executive Board of the ECB, At Exchange of Ideas #2 “Central clearing – guarantee of stability or new moral hazard?” organised by Eurex Clearing London, 24 November 2014

Summary

Central counterparty recovery and resolution

Keynote Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
At Exchange of Ideas #2 “Central clearing – guarantee of stability or new moral hazard?” organised by Eurex Clearing
London, 24 November 2014

The mandatory use of central clearing is a relatively new regulatory tool for mitigating systemic risk in the OTC derivatives space. It has brought the central counterparties (CCPs) to the forefront of financial market regulation. It is therefore crucial for CCPs to have comprehensive and effective recovery plans, relying on a wide range of recovery tools, to continue providing their critical services also in a very severe crisis without requiring the use of resolution powers by authorities. Obviously the stability of CCPs primarily depends on the establishment and implementation of robust risk management framework. But CCPs are also in a unique position to set up efficient and comprehensive recovery plans as they can base them on contractual arrangements with members. But CCPs need to have appropriate procedures for managing conflicts of interest between stakeholders - it is vital to involve all those who would bear losses in the design of the recovery plan. And on the regulatory side, we need to make sure our approach is cautious and non-prescriptive at this stage. I am confident that CCPs, authorities and stakeholders will work together constructively to meet the ambitious objectives set out in the recent CPMI-IOSCO report.

17/11/2014
Benoît Cœuré:  Taking stock of the global role of the Renminbi
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the European-Chinese Banking Day, Frankfurt, 17 November 2014
17/11/2014
Peter Praet:  Repairing the bank lending channel: the next steps
Speech by Peter Praet, Member of the Executive Board of the ECB, at European Macro Conference organised by Credit Suisse, London, 17 November 2014

Summary

Repairing the bank lending channel: the next steps

Speech by Peter Praet, Member of the Executive Board of the ECB,
at European Macro Conference organised by Credit Suisse,
London, 17 November 2014

The effectiveness of monetary policy in the euro area depends on a well-functioning banking sector as it operates through the bank lending channel. In recent years, efforts have been made to repair this channel. Policymakers agreed to establish Banking Union and the ECB assumed supervisory responsibilities within it. Against that background, we expect the monetary policy initiatives we adopted in June and September to gain pace in the coming months, thus incentivising lending to the real economy and ultimately bringing inflation closer to 2%. Indeed we have already observed a considerable easing of the effective monetary policy stance. We sustain that these measures will have a sizeable impact on the Eurosystem's balance sheet, which is expected to move towards the dimensions it had at the beginning of 2012. But as banks adjust to a new business environment, it is essential to ensure that they continue to have microeconomic incentives that coincide with our desired macroeconomic objectives, while we keep developing a banking landscape that is sufficiently efficient and diversified to sustain credit supply.

17/11/2014
Yves Mersch:  Aktuelle geldpolitische Herausforderungen
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, Auf der 17. Euro Finance Week, Frankfurt, 17. November 2014
14/11/2014
Benoît Cœuré:  The global and European aspects of policy coordination
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Global Research Forum on International Macroeconomics and Finance Washington D.C., 14 November 2014
13/11/2014
Sabine Lautenschläger:  The interplay between macro-prudential, micro-prudential and monetary policies at the ECB (slides from the presentation)
Presentation by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the conference “Macroprudential policy: Implementation and Interaction with other Policies” jointly organised by Sveriges Riksbank and the IMF in Stockholm, 13 November 2014
4/11/2014
Benoît Cœuré:  Laying the foundations of the Cypriot recovery
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the 10th Cyprus Summit "Current developments in the euro area", Nicosia, 4 November 2014
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22/10/2014
Yves Mersch:  Capital markets union – the “Why” and the “How”
Dinner speech by Yves Mersch, Member of the Executive Board of the ECB, Joint EIB-IMF High Level Workshop, Brussels, 22 October 2014
22/10/2014
Benoît Cœuré:  Towards retail payments 2.0: The new security challenges
Opening remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at a Joint European Central Bank/Banque de France conference, Paris, 22 October 2014
17/10/2014
Yves Mersch:  Monetary policy and economic inequality
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, Corporate Credit Conference, Zurich, 17 October 2014
17/10/2014
Benoît Cœuré:  Structural reforms: learning the right lessons from the crisis
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, Economic conference, Latvijas Banka, Riga, 17 October 2014

Summary

Structural reforms: learning the right lessons from the crisis

Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB,
Economic conference, Latvijas Banka,
Riga, 17 October 2014

One lesson that we learned after the financial crisis is that achieving sustainable economic growth is always about both demand and supply. Moreover, policies that support demand empower policies that support supply, and vice versa.

In the post crisis environment of a large debt overhang, partly structural unemployment and weak productivity levels, supply-side policies can increase the effectiveness of demand-side policies and help empower demand. By raising potential growth they create more space for spending (governments, firms and households). Additionally, by reactivating/reskilling the workforce, they allow employment to respond faster to higher demand. Finally, they ensure that higher demand is channelled towards the right sectors.

While their long-term positive effects are undisputed, structural reforms, especially in times when monetary policy is at the lower bound, are seen to have negative short-term effects through increasing real interest rates. However, structural reforms can be effective in the short run as they raise expectations of higher incomes and cause firms to increase investment today and bring forward the economic recovery.

Achieving a positive short-term impact from structural reforms depends on both the pace and composition of reforms. First, instead of the traditionally gradual approach, reforms need to be frontloaded (as e.g. in Latvia). Second, they must focus not only on competitiveness, but also on increasing the rate of productivity growth in the economy.

When thinking about the composition of reforms, one should have in mind innovation (see firms’ market entry and turnover), adoption (e.g. information and communication technology) and reallocation (labour market reforms).

But while the full benefits of these efforts are still emerging, aggregate demand should be supported to counteract the potentially destabilising effect of lower prices and higher real interest rates. This can be done by fiscal policy, when it is available without questioning long-term debt sustainability. And it can be done by monetary policy, even when interest rates have reached the lower bound, by expanding the central bank’s balance sheet and channelling liquidity to the real economy.

10/10/2014
Peter Praet:  Recent monetary policy measures supporting the euro area recovery
Speech by Peter Praet, Member of the Executive Board of the ECB, at the IIF Annual Membership Meeting, Washington D.C., 10 October 2014
30/9/2014
Sabine Lautenschläger:  National supervision in a European system: What is the new balance?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Fifth FMA supervisory conference, Vienna, 30 September 2014
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26/9/2014
Yves Mersch:  Tackling unemployment in Europe – increasing mobility, enhancing flexibility, optimising education
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at the University of Luxembourg, Luxembourg, 26 September 2014
26/9/2014
Benoît Cœuré:  Credit and Investment in the European Recovery
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at IMF/Banka Slovenije high-level seminar on “Reinvigorating Credit Growth in Central, Eastern and Southern European Economies”, Portoroz, 26 September 2014
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Summary

Credit and Investment in the European Recovery

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at IMF/Banka Slovenije high-level seminar on “Reinvigorating Credit Growth in Central, Eastern and Southern European Economies”,
Portoroz, 26 September 2014

To revive the euro area economy recapitalisation not only in the banking sector but also a repairing of private sector balance sheets is needed. The banking sector is undergoing a necessary process of structural reforms. With concluding the Comprehensive assessment there is potential to ensure that credit supply constraints diminish and the cycle turns.

For a stronger rebound in investment the private non-financial sector needs to raise equity. One instrument especially for smaller and medium size enterprises is to allow EU investment funds to be distributed in the form of equity and not only in the form of debt, as the European Bank for Reconstruction and development (EBRD) and the International Finance Corporation (IFC) already do in many countries. Also the fragmentation in venture capital markets should be reduced.

For smaller firms with the need of deleveraging debt-for-equity-swaps, possibly fostered by tax incentives, could facilitate private debt workouts.

What is also needed is to raise productivity. An “upward shock” to total factor productivity is needed but only possible in highly competitive markets.

Posojila in naložbe v evropskem okrevanju

Govor Benoîta Cœuréja, člana Izvršilnega odbora ECB,
na seminarju MDS/Banke Slovenije na visoki ravni z naslovom “Oživljanja rasti posojil v srednji, vzhodni in jugovzhodni Evropi”,
Portorož, 26. september 2014

Za oživitev gospodarstva euroobmočja sta potrebna tako dokapitalizacija v bančnem sektorju kot tudi popravilo bilanc stanja v zasebnem sektorju. V bančnem sektorju poteka nujni proces strukturnih reform. Z zaključkom celovite ocene obstaja možnost, da se omejitve pri ponudbi kreditov postopno zmanjšajo in da se gospodarski cikel obrne.

Za močnejši odboj naložb mora nefinančni zasebni sektor zbrati lastniški kapital. En instrument, ki bi ga lahko uporabila posebej mala in srednje velika podjetja, je možnost, da se naložbena sredstva EU razdeljujejo v obliki lastniškega kapitala in ne le v obliki dolga, kar Evropska banka za obnovo in razvoj (EBRD) in Mednarodna finančna korporacija (IFC) v mnogih državah že počneta. Poleg tega bi bilo treba zmanjšati razdrobljenost trgov tveganega kapitala.

Za manjša podjetja, ki morajo zmanjšati svojo zadolženost, bi bilo zasebni dolg mogoče prestrukturirati z zamenjavo terjatev v lastniške deleže, po možnosti ob podpori davčnih spodbud.

Kar potrebujemo, je dvig produktivnosti. Potreben je “pozitiven šok” na področju skupne faktorske produktivnosti, vendar pa je ta mogoč samo na zelo konkurenčnih trgih.

19/9/2014
Benoît Cœuré:  A three-pillar-strategy for the Euro
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, and by Jörg Asmussen* for Berliner Zeitung and Les Echos, 19 September 2014
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17/9/2014
Yves Mersch:  Towards a new collateral landscape
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the 2nd Joint Central Bank Seminar on Collateral and Liquidity hosted by the ECB and the Deutsche Bundesbank, Hamburg, 17 September 2014
10/9/2014
Yves Mersch:  For a European capital markets union – Securing stability, overcoming fragmentation
Closing keynote speech by Yves Mersch, Member of the Executive Board of the ECB, Zeit Konferenz “Banken & Wirtschaft”, Chamber of Commerce and Industry Frankfurt am Main, 10 September 2014
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9/9/2014
Benoît Cœuré:  Life below zero: Learning about negative interest rates
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Presentation at the annual dinner of the ECB's Money Market Contact Group, Frankfurt am Main, 9 September 2014
8/9/2014
Sabine Lautenschläger:  Banking supervision – a challenge
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Deutsches Institut für Wirtschaftsforschung, Hamburg, 8 September 2014
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Summary

Die Bankenaufsicht - Eine Herausforderung

Sabine Lautenschläger, Member of the Executive Board of the ECB,
Deutsches Institut für Wirtschaftsforschung,
Hamburg, 8 September 2014

The effectiveness of monetary policy will be bolstered when the European Central Bank (ECB) assumes its banking supervision responsibilities under the Single Supervisory Mechanism (SSM), believes Sabine Lautenschläger, member of the ECB's Executive Board. Bringing together the supervision of individual banks, the macro-prudential supervision of the financial system and monetary policy under one roof will help to ensure that monetary policy can focus entirely on safeguarding price stability, Lautenschläger said in a speech at the Annual Conference of the Verein für Socialpolitik in Hamburg. The interaction between the three policy areas of the central bank will reduce the risk of financial dominance, strengthen the transmission of monetary policy and improve the management of the financial system.

"Both areas have a very strong interest in sound banks with viable business models that can provide credit to the real economy", said Lautenschläger. Given that banks have already been preparing over recent months for the requirements that will apply following the imminent launch of the SSM and have strengthened their capital bases, their capacity to provide credit to the economy has increased even before the official start of the SSM. This strengthens the transmission of monetary policy.

For the central bank, which provides financing for commercial banks, it is very important – particularly in times of crisis – to make a clear distinction between sound banks that are solvent but suffering from liquidity shortages and insolvent banks that will not be able to survive in the long run. A strong European supervisor would be able to dispel some of the uncertainty attached to solvency assessments. This will help the ECB to fulfil its tasks, because it will be able to provide liquidity support without fear of exceeding its mandate, said Lautenschläger. However, reliable solvency information would only be able to help reduce financial dominance if there is a credible regime for resolving banks. This requires a common regulatory framework and a resolution fund with ample resources. In addition, stricter rules regarding the granting of emergency liquidity assistance to commercial banks by Eurosystem national central banks could reduce potential conflicts of interest.

Particularly in times of economic growth, the ECB's new tasks could permit an appropriate reaction to potential excesses in asset markets, for example. Using interest rates to counter such developments is not appropriate, warned Lautenschläger, because it could jeopardise the primary objective of price stability. It is thus all the more important that the ECB's Governing Council should have more tools at its disposal to counter imbalances.

Die Bankenaufsicht - Eine Herausforderung

Sabine Lautenschläger, Mitglied des Direktoriums der EZB,
Deutsches Institut für Wirtschaftsforschung,
Hamburg, 8. September 2014

Die Übernahme der gemeinsamen europäischen Bankenaufsicht durch die Europäische Zentralbank wird nach Einschätzung von EZB-Direktorin Sabine Lautenschläger die Wirksamkeit der Geldpolitik zusätzlich stärken. Die Zusammenführung der Aufsicht über einzelne Banken, der makroprudenziellen Aufsicht über die Finanzsysteme und der Geldpolitik unter einem Dach werde dazu beitragen wird, dass sich die Geldpolitik ganz auf die Wahrung von Preisstabilität konzentrieren könne, sagte Lautenschläger in einer Rede auf der Jahrestagung des Vereins für Socialpolitik in Hamburg. Das Zusammenwirken der drei Politikbereiche der Zentralbank verringere das Risiko der finanziellen Dominanz, stärke die Wirkungskette der Geldpolitik und verbessere die Steuerung des Finanzsystems.

"Beide Bereiche haben großes Interesse an soliden Banken mit tragfähigen Geschäftsmodellen, die die Realwirtschaft mit Krediten versorgen können", sagte Lautenschläger. Weil sich die Banken schon in den vergangenen Monaten auf die Bedingungen des bevorstehende Single Supervisory Mechanism (SSM) vorbereitet und ihre Kapitalbasis gestärkt haben, sei ihre Fähigkeit, die Wirtschaft mit Krediten zu versorgen, schon vor dem eigentlichen Beginn der gemeinsamen europäischen Bankenaufsicht gewachsen. Das stärke die Transmissionskette der Geldpolitik.

Insbesondere in Krisenzeiten sei es für die Zentralbank, die die Geschäftsbanken mit Krediten versorgt, von großer Bedeutung sauber zu unterscheiden zwischen gesunden Banken, die zwar solvent sind, aber trotzdem in Liquiditätsnot geraten sind, und insolventen Banken, die langfristig nicht überleben können. Eine starke europäische Bankenaufsicht könne einige der Unsicherheiten, mit denen die Solvenzeinschätzungen behaftet sind, ausräumen. Das werde der Zentralbank bei der Erfüllung ihrer Aufgaben helfen, denn dann könne sie Liquiditätshilfen geben, ohne dass sie befürchten müsse, ihr Mandat zu überschreiten, sagte Lautenschläger. Zuverlässige Solvenzinformationen könnten allerdings nur dann zum Abbau von finanzieller Dominanz beitragen, wenn es eine glaubwürdige Regelung für die Abwicklung von Banken gebe. Dafür seien ein gemeinsames Regelwerk und ein ausreichend finanzierter Abwicklungsfonds notwendig. Außerdem könnten strengere Regeln für die Vergabe von Notkrediten (Emergency Liquidity Assistance, ELA) durch nationale Notenbanken des Eurosystems an Geschäftsbanken mögliche Interessenkonflikte verringern.

Besonders in Zeiten eines wirtschaftlichen Aufschwungs könnten die neuen Kompetenzen der EZB eine angemessene Reaktion auf möglichen Übertreibungen etwa auf den Märkten für Vermögenswerte ermöglichen. Ein Gegensteuern durch die Zinspolitik sei ungeeignet, weil dann das primäre Ziel der Preisstabilität gefährdet werden könnte, warnte Lautenschläger. Umso wichtiger sei deshalb, dass sich nun der Instrumentenkasten erweitere, der dem EZB-Rat zur Verfügung stehe, um Übertreibungen entgegen zu wirken.

5/9/2014
Benoît Cœuré:  Stronger together: the Greek turnaround and European integration
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, published in "TA NEA", 30 August 2014
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3/9/2014
Sabine Lautenschläger:  Countdown to November: European supervision ready for lift-off
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Handelsblatt Konferenz “Banken im Umbruch”, Frankfurt am Main, 3 September 2014
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Summary

Countdown to November: European supervision ready for lift-off

Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB,
Handelsblatt Konferenz “Banken im Umbruch”,
Frankfurt am Main, 3 September 2014

European banking supervision will draw on the long-standing experience of 18 – soon 19 – Member States and incorporate it into a new European supervisory culture, said Sabine Lautenschläger, Member of the Executive Board of the European Central Bank (ECB) in a speech at the “Banken im Umbruch” conference in Frankfurt am Main.

A significant advantage of the new Single Supervisory Mechanism (SSM) is the possibility to make cross-country comparisons. “I am not just thinking of the assessment of specific portfolios here, but also of the early identification of risks, which only become visible, or are at least easier to identify, in horizontal analysis”, she said. The asset quality review has already given us a deeper insight into the banks’ procedures, thereby making it possible for us to check “which differences between banks are justified and to ascertain where we need to probe critically”.

Ms Lautenschläger stressed that, although decision-making in the new European banking supervision will be organised centrally, the SSM can build on regional knowledge and experience. “As national supervisory authorities participate in the supervisory process, the ECB remains close to regional market and banking structures”, she said. Also in terms of staffing, the SSM will bring together people from different supervisory cultures. The heads of Joint Supervisory Teams will come from a country other than that in which the institution it is supervising is established. “In concrete terms: the head supervisor for Deutsche Bank will be a French lady; BNP Paribas will be supervised by an Italian man.”

Countdown to November: European supervision ready for lift-off

Rede von Sabine Lautenschläger, Mitglied des Direktoriums der EZB,
Handelsblatt Konferenz „Banken im Umbruch“,
Frankfurt am Main, 3. September 2014

Die europäische Bankenaufsicht wird sich auf die langjährigen Erfahrungen von 18 – bald 19 – Ländern stützen und diese in eine gemeinsame neue europäische Aufsichtskultur einfließen lassen, sagt Sabine Lautenschläger, Mitglied des Direktoriums der Europäischen Zentralbank (EZB), in einer Rede auf der Konferenz „Banken im Umbruch“ in Frankfurt.

Ein wesentlicher Vorteil der neuen europäischen Aufsicht („Single Supervisory Mechanism“ – SSM) bestehe darin, Quervergleiche über Ländergrenzen hinweg nutzen zu können. „Ich denke hier nicht nur an die Bewertung bestimmter Portfolios, sondern auch an die frühzeitige Identifizierung von Risiken, die erst oder leichter in der horizontalen Analyse sichtbar werden“, erklärt sie. Bereits durch den Bilanzcheck („Asset Quality Review“) dieses Jahres erhalte die EZB tiefere Erkenntnisse über die Prozesse der Banken, sodass geprüft werden könne, „welche Unterschiede zwischen Banken gerechtfertigt sind und wo wir kritisch nachfragen müssen.“

Lautenschläger betont, dass Entscheidungen in der neuen europäischen Bankenaufsicht zentral gefällt werden, der SSM aber auf regionale Kenntnisse und Erfahrungen aufbauen könne. „Mit der Beteiligung der nationalen Aufsichtsbehörden am Aufsichtsprozess bleibt die EZB nah an den regionalen Markt- und Bankenstrukturen“, sagt sie. Auch auf der Ebene der Personalpolitik setze man auf das Zusammenführen verschiedener Aufsichtskulturen. Die Leiter der gemeinsamen Aufsichtsteams würden beispielweise nicht dem Land entstammen, in dem das von ihnen beaufsichtigte Institut seinen Hauptsitz habe. „Um es konkret zu machen: die Chefaufseherin für die Deutsche Bank wird eine Französin sein. BNP Paribas wird von einem Italiener beaufsichtigt werden.“

2/9/2014
Benoît Cœuré:  On the optimal size of the financial sector
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the ECB Conference “The optimal size of the financial sector” Frankfurt, 2 September 2014
22/7/2014
Benoît Cœuré:  Policy coordination in a multipolar world
Remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the 5th annual Cusco conference organised by the Central Reserve Bank of Peru and the Reinventing Bretton Woods Committee: "70 years after Bretton Woods: Managing the interconnectedness of the world economy", Cusco, 22 July 2014
9/7/2014
Peter Praet:  Keynote speech at the Europlace Financial Forum
Speech by Peter Praet, Member of the Executive Board of the ECB, Europlace Financial Forum, Paris, 9 July 2014
9/7/2014
Benoît Cœuré:  Investing in Europe: towards a new convergence process
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Panel “The big rethink for a stronger Europe”, The Economist Roundtable with the Government of Greece, Athens, 9 July 2014
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Summary

Investing in Europe: towards a new convergence process

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
Panel “The big rethink for a stronger Europe”, The Economist Roundtable with the Government of Greece,
Athens, 9 July 2014

Economic and Monetary Union (EMU) is a political triathlon. It requires resilience and resolve to perform well at all times in the three disciplines of a currency union: fiscal policy, economic policy and financial policy. EMU is a team effort. Only if every participant performs well can the euro area team be strong. This is the most important lesson from the crisis.

The European economy is undergoing a moderate recovery, but complacency would be unwarranted. To really overcome the crisis, there are some remaining major challenges still to be faced. The euro area is not in a financial crisis anymore, but it must still contend with high debt, low growth and unacceptably high unemployment. These are reason enough to remain alert and continue acting. In recent years, economic policy-making rightfully focused on re-establishing the most important necessary condition for growth: stability. For companies to invest, for firms to hire, for households to consume, a stable economic environment is paramount.

There are three relevant dimensions of economic stability: price stability, financial stability and macroeconomic stability, including the health of public finances. In all these areas, we have made substantial progress in recent years. During the crisis, the ECB took all appropriate measures to ensure that price stability provided an anchor in an uncertain and volatile economic environment. As for financial stability, the establishment of the European Stability Mechanism and the launch of banking union, with its Single Supervisory Mechanism and Single Resolution Mechanism, have been milestones in this respect. As a third dimension, the crisis has shown us the kind of existential threat to monetary union that can be brought about by the build-up of excessive imbalances, i.e. by the lack of fiscal and macroeconomic stability. New growth will not be generated by new debt. Sound fiscal policies are essential for growing out of debt. Therefore, the existing rules should be applied in a credible manner.

That said, we cannot claim “mission accomplished”. What has been achieved so far is not enough. The answer to the remaining challenges could take the form of a “convergence process 2.0”, which should have an agreed timeline and milestones. But convergence can only be sustainable if it is associated with a commensurate deepening of integration, if it is a race towards best practice institutions and policies rather than towards mere nominal outcomes. In this context, structural reforms, if properly designed, lead to greater prosperity in each country and, at the same time, ensure greater resilience of EMU as a whole, thereby contributing to economic and social stability. Growth and stability are therefore mutually reinforcing.

The convergence process should consist of two legs: on the one hand, it should underpin the convergence of economic policies and structures at the national level. On the other hand, it should facilitate joint action.

At the national level, convergence implies that euro area governments need to step up structural reforms, in particular those which have the greatest efficiency gains given the relative distance to best practices. And policy-makers should pay due attention to ensure that the burden of the adjustment effort is shared fairly.

The convergence in national structures could be complemented by joint action at the European level to increase investment and by the transfer of certain budgetary responsibilities to the European level with a view to strengthening risk-sharing within the currency union. But joint action can only occur once trust has been restored across countries and within countries, and the convergence process has advanced successfully. The level and the form of budgetary responsibilities, and how they are matched by appropriate democratic arrangements, should emanate from the political process.

The biggest threat to the Single Market is not euro area integration: it would be euro area stagnation. The challenge of making the EMU work is far from over. Let’s get ready for the next stage of the race.

Επενδύοντας στην Ευρώπη: προς μια νέα διαδικασία σύγκλισης

Ομιλία του Benoît Cœuré, μέλους της Εκτελεστικής Επιτροπής της ΕΚΤ,
Ενότητα «The Big Rethink for a Stronger Europe» (Ευρεία αναθεώρηση για μια ισχυρότερη Ευρώπη), Συζήτηση στρογγυλής τραπέζης του Economist με την Ελληνική Κυβέρνηση,
Αθήνα, 9 Ιουλίου 2014

Η Οικονομική και Νομισματική Ένωση (ΟΝΕ) είναι το τρίαθλο της πολιτικής. Απαιτεί από τους συμμετέχοντες αντοχή και αποφασιστικότητα ώστε να αποδίδουν καλά ανά πάσα στιγμή και στους τρεις τομείς της νομισματικής ένωσης: τη δημοσιονομική πολιτική, την οικονομική πολιτική και τη χρηματοπιστωτική πολιτική. Η ΟΝΕ στηρίζεται στην ομαδική προσπάθεια. Μόνο όταν όλοι οι επιμέρους συμμετέχοντες αποδίδουν καλά μπορεί η ομάδα της ζώνης του ευρώ να είναι ισχυρή. Αυτό είναι και το σημαντικότερο δίδαγμα της κρίσης.

Η ευρωπαϊκή οικονομία βρίσκεται σε πορεία μέτριας ανάκαμψης, αλλά δεν δικαιολογείται ο εφησυχασμός. Προκειμένου η κρίση να αποτελέσει οριστικά παρελθόν, πρέπει ακόμη να αντιμετωπιστούν κάποιες σημαντικές προκλήσεις. Η ζώνη του ευρώ έχει πλέον ξεπεράσει τη χρηματοπιστωτική κρίση, αλλά βρίσκεται ακόμη αντιμέτωπη με υψηλό χρέος, χαμηλό ρυθμό ανάπτυξης και απαράδεκτα υψηλή ανεργία. Αυτοί οι λόγοι είναι αρκετοί για να μας κρατήσουν σε επαγρύπνηση και συνεχή δράση. Τα τελευταία χρόνια, οι φορείς χάραξης της οικονομικής πολιτικής εύλογα επικεντρώθηκαν στην αποκατάσταση της σημαντικότερης απαραίτητης προϋπόθεσης για την ανάπτυξη: της σταθερότητας. Η διασφάλιση ενός σταθερού οικονομικού περιβάλλοντος έχει καθοριστική σημασία, καθώς αυτό ενθαρρύνει τις επιχειρήσεις να επενδύουν, τις εταιρείες να κάνουν προσλήψεις, τα νοικοκυριά να καταναλώνουν.

Υπάρχουν τρεις συναφείς διαστάσεις της οικονομικής σταθερότητας: η σταθερότητα των τιμών, η χρηματοπιστωτική σταθερότητα και η μακροοικονομική σταθερότητα, στην οποία περιλαμβάνεται και η ευρωστία των δημόσιων οικονομικών. Σε όλους αυτούς τους τομείς σημειώσαμε σημαντική πρόοδο τα τελευταία χρόνια. Στη διάρκεια της κρίσης, η ΕΚΤ έλαβε όλα τα απαραίτητα μέτρα ώστε να διασφαλίσει ότι η σταθερότητα των τιμών παρείχε ένα σημείο αναφοράς σε ένα οικονομικό περιβάλλον αβεβαιότητας και αστάθειας. Όσον αφορά τη χρηματοπιστωτική σταθερότητα, η θέσπιση του Ευρωπαϊκού Μηχανισμού Σταθερότητας και η έναρξη της τραπεζικής ένωσης, με τον Ενιαίο Εποπτικό Μηχανισμό και τον Ενιαίο Μηχανισμό Εξυγίανσης, αποτελούν ορόσημα από αυτή την άποψη. Σε ό,τι αφορά την τρίτη διάσταση, η κρίση μας έδειξε πώς ακριβώς η συσσώρευση υπερβολικών ανισορροπιών μπορεί να απειλήσει την ύπαρξη της νομισματικής ένωσης – αν δεν διασφαλίζεται δηλαδή η δημοσιονομική και μακροοικονομική σταθερότητα. Η νέα ανάπτυξη δεν θα δημιουργηθεί με νέο χρέος. Υγιείς δημοσιονομικές πολιτικές είναι απαραίτητες για την απαλλαγή από το χρέος. Επομένως, οι ισχύοντες κανόνες πρέπει να εφαρμόζονται κατά τρόπο αξιόπιστο.

Έχοντας υπόψη τα παραπάνω, δεν είμαστε σε θέση να ισχυριστούμε ότι η αποστολή μας εξετελέσθη. Αυτά που έχουμε επιτύχει μέχρι τώρα δεν είναι αρκετά. Η λύση για την αντιμετώπιση των προκλήσεων που εξακολουθούν να υφίστανται θα μπορούσε να έχει τη μορφή μιας «νέας διαδικασίας σύγκλισης», η οποία θα πρέπει να έχει καθορισμένο χρονοδιάγραμμα και ορόσημα. Όμως, η βιωσιμότητα της σύγκλισης είναι εφικτή μόνον εάν συνδέεται με ανάλογη εμβάθυνση της ολοκλήρωσης, εάν δηλαδή πρόκειται για έναν αγώνα για τη διασφάλιση βέλτιστων θεσμών και πολιτικών και όχι για την επίτευξη ονομαστικών απλώς αποτελεσμάτων. Σε αυτό το πλαίσιο, οι διαρθρωτικές μεταρρυθμίσεις, εφόσον σχεδιαστούν σωστά, οδηγούν σε μεγαλύτερη ευημερία για κάθε χώρα και, ταυτόχρονα, αυξάνουν την ανθεκτικότητα της ΟΝΕ συνολικά, συμβάλλοντας έτσι στην οικονομική και στην κοινωνική σταθερότητα. Επομένως, η ανάπτυξη και η σταθερότητα αλληλοενισχύονται.

Η διαδικασία σύγκλισης θα πρέπει να έχει δύο σκέλη: αφενός να υποστηρίζει τη σύγκλιση των οικονομικών πολιτικών και δομών σε εθνικό επίπεδο και αφετέρου να προάγει την από κοινού ανάληψη δράσης.

Σε εθνικό επίπεδο, η σύγκλιση συνεπάγεται ότι οι κυβερνήσεις της ζώνης του ευρώ πρέπει να επιταχύνουν την υλοποίηση διαρθρωτικών μεταρρυθμίσεων, ιδίως των μεταρρυθμίσεων που αποφέρουν τα περισσότερα οφέλη αποδοτικότητας με δεδομένη τη σχετική απόσταση από τις βέλτιστες πρακτικές. Οι δε φορείς χάραξης πολιτικής θα πρέπει να μεριμνήσουν δεόντως ούτως ώστε να διασφαλίσουν ότι τα βάρη της προσπάθειας προσαρμογής κατανέμονται δίκαια.

Η σύγκλιση των εθνικών δομών θα μπορούσε να συμπληρωθεί με την από κοινού ανάληψη δράσης σε ευρωπαϊκό επίπεδο για την αύξηση των επενδύσεων και με τη μεταβίβαση ορισμένων δημοσιονομικών αρμοδιοτήτων στο ευρωπαϊκό επίπεδο με σκοπό να ενισχυθεί ο επιμερισμός του κινδύνου εντός της νομισματικής ένωσης. Όμως, η από κοινού ανάληψη δράσης μπορεί να γίνει πραγματικότητα μόνον από τη στιγμή που θα αποκατασταθεί η εμπιστοσύνη μεταξύ των χωρών αλλά και εντός των χωρών και εφόσον η διαδικασία σύγκλισης θα έχει προχωρήσει επιτυχώς. Η έκταση και η μορφή των δημοσιονομικών αρμοδιοτήτων, καθώς και οι κατάλληλες ρυθμίσεις δημοκρατικού ελέγχου τους, θα πρέπει να είναι το αποτέλεσμα μιας πολιτικής διαδικασίας.

Η μεγαλύτερη απειλή για την ενιαία αγορά δεν είναι η ολοκλήρωση της ζώνης του ευρώ, αλλά μάλλον μια ενδεχόμενη στασιμότητα της ζώνης του ευρώ. Η επίτευξη μιας πλήρως λειτουργικής ΟΝΕ αποτελεί μια πρόκληση η οποία δεν έχει πάψει να υφίσταται. Ας ετοιμαστούμε λοιπόν για την επόμενη φάση του αγώνα.

7/7/2014
Sabine Lautenschläger:  Low inflation as a challenge for monetary policy and financial stability?
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, Parliamentary Evening, Hamburg, 7 July 2014
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Low inflation as a challenge for monetary policy and financial stability?

Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB,
Parliamentary Evening, Hamburg,7 July 2014

Although low interest rates might have side effects with respect to financial stability, they were necessary for the ECB to fulfil its mandate of ensuring price stability, said Sabine Lautenschläger, member of the ECB’s Executive Board, in a speech at an event organised by the Deutsche Bundesbank in Hamburg. “The risks of the rate of inflation being too low over a long period are not to be underestimated,” she explained. The experience of Japan had proven that an unanchoring of inflation expectations could start a downward spiral – consumers and investors could change their behaviour and defer spending.

The ECB’s Governing Council had therefore cut the main refinancing rate and had decided on a package of instruments to encourage banks to lend more to corporations and households. Excessively low inflation rates made it harder for stressed countries to adjust their economies and regain competitiveness. “We [could] soon find ourselves in a vicious circle in the euro area”, Lautenschläger warned. It would take some time before the measures adopted took effect, especially the instruments designed to increase liquidity, she explained. “I would expect that to happen next year, rather than this year.”

Should inflation rates not increase gradually as expected, the Governing Council was unanimous in its readiness to decide on further unconventional measures to effectively counter the risks related to an excessively long period of low interest rates, said Ms Lautenschläger. A broadly ranging programme of securities purchases was basically an instrument that a central bank could use, Lautenschläger claimed. But the requirement to be met for such a use had to be very high, because of the significant potential side effects, she said. What was also being discussed was a revitalisation of the market for asset-backed securities (ABSs), which Lautenschläger regarded as a worthwhile goal to the extent that transparent and simple securitisations were involved. For such ABSs, a purchase programme would be possible, but the ECB should only take on liquidity risk and no credit risk. Taking on credit risk, for example to encourage lending to small and medium-sized companies, was the responsibility of the governments of Member States, said Lautenschläger.

An easing of monetary policy has side effects on asset prices, said Lautenschläger. That could reduce risk aversion and increase the threat of asset price bubbles. In addition, indebtedness could increase further and the flexibility of monetary policy action could be undermined. Those were risks that should not be addressed by monetary policy to the detriment the central bank’s price stability mandate. On the other hand, this did not mean that there could not be any response. Instruments of macro-prudential supervision should be used, said Lautenschläger. For example, higher capital requirements could slow down lending in the event of excesses on regional real estate markets.

Niedriginflation als Herausforderung für Geldpolitik und Finanzstabilität?

Rede von Sabine Lautenschläger, Mitglied des Direktoriums der EZB,
Parlamentarischer Abend organisiert von der Deutschen Bundesbank, Hauptverwaltung Hamburg, Mecklenburg-Vorpommern und Schleswig-Holstein,
Hamburg, 7. Juli 2014

Niedrige Zinsen im Euroraum seien zwar mit Nebenwirkungen auf die Finanzstabiltät verbunden, sie seien aber notwendig, damit die Europäische Zentralbank ihrem Mandat der Preisstabilitätsicherung gerecht werde, sagt Sabine Lautenschläger, Mitglied im Direktorium der Europäischen Zentralbank, in einer Rede auf dem Parlamentarischen Abend der Bundestag in Hamburg. „Auch die Risiken einer zu niedrigen Inflationsrate sind nicht zu unterschätzen“, erläutert Lautenschläger. Das Beispiel Japans zeige, dass die Entkoppelung der Inflationserwartungen eine Abwärtsspirale auslösen könne, denn dann drohe unter anderem, dass Konsumenten und Investoren ihr Verhalten änderten und Anschaffungen aufschöben.

Darauf habe der EZB-Rat in der vergangenen Woche reagiert und eine Senkung des Leitzinses sowie ein Paket von weiteren Maßnahmen beschlossen, um die Kreditvergabe an Unternehmen und Haushalte zu stimulieren. Zu niedrige Inflationsraten erschwerten zudem den Anpassungsprozess in den Reformländern. Es dauere dann noch länger, bis sie ihre Wettbewerbsnachteile aufholen könnten. „Und dann befinden wir uns im Euroraum schnell in einem Teufelskreis“, warnt Lautenschläger. Es werde eine Weile dauern, bis die Maßnahmen der EZB wirkten, erläutert sie. Das gelte insbesondere für die Instrumente, mit denen die Liquidität im Bankensystem erhöht werden. „Ich denke da eher an das nächste und nicht an dieses Jahr.“

Für den Fall, dass sich anders als erwartet die Inflationsaussichten nicht schrittweise verbessern sollten, habe der EZB-Rat einstimmig die Bereitschaft zu weiteren unkonventionellen Instrumente geäußert, um den Risiken einer zu lang anhaltenden Phase niedriger Inflation wirksam entgegenzutreten. Ein breit angelegtes Kaufprogramm von Wertpapieren zählt grundsätzlich zum Instrumentenkasten der Zentralbank, sagt Lautenschläger. Jedoch müssten die Anforderungen an gerade diese Art von geldpolitischem Eingriff besonders hoch sein, da seine Nebenwirkungen besonders groß seien. Diskutiert werde auch die Wiederbelebung des Marktes für Kreditverbriefungen. Das sei ein lohnendes Ziel, wenn es um transparente und übersichtlich strukturierte Verbriefungen gehe. Für solche Wertpapiere käme auch ein Programm in Frage, bei dem die EZB Liquiditätsrisiken übernehme, so Lautenschläger. Die Übernahme von Kreditrisiken zur Stimulierung des Marktes, etwa um die Kreditvergabe an mittelständische Unternehmen zu fördern, sei aber nicht ihre Aufgabe. Das falle in die Verantwortung der Mitgliedsstaaten.

Gleichwohl habe die Lockerung der Geldpolitik Nebenwirkungen unter anderem auf die Vermögenspreise, erläutert Lautenschläger. Sie könne zu einer Verringerung der Risikoscheu führen und das Risiko von Vermögenspreisblasen erhöhen. Außerdem könne die Tendenz zur Überschulding zunehmen und der geldpolitische Handlungsspielraum könne schrumpfen. Diesen Risiken dürfe die Geldpolitik nicht begegnen, indem sie Abstriche am Ziel der Preisstabilität mache, sagt Lautenschläger. Das bedeute aber nicht, dass die Nebenwirkungen unvermeidlich seien. Vielmehr müssten die Instrumente der makroprudentiellen Aufsicht genutzt werden. So könne über erhöhte Kapitalanforderungen an die Banken die Kreditvergabe gebremst und so regionalen Übertreibungen etwa auf den Immobilienmärkten entgegen gewirkt werden.

3/7/2014
Benoît Cœuré:  Price stability as the basis of a sustained recovery
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Wirtschaftstag 2014, Berlin, 3 July 2014
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Price stability as the basis of a sustained recovery

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
Wirtschaftstag 2014,
Berlin, 3 July 2014

Only sustainable growth via enhancing the productive potential in the euro area will lead to an environment that secures fair prices for credit and fair compensation for savers, said Benoît Cœuré, member of the ECB’s executive board. Cœuré explained in his speech at the Wirtschaftstag in Berlin the ECB’s monetary policy in the current environment of a stagnating economy. “In a stagnating economy savers complain about low returns while borrowers complain about too restrictive credit conditions”. Only an economy with sustainable growth and price stability can solve this dilemma.

“The only way to move on from the current low interest rate environment is to reinvigorate the productive potential of the euro are economy”, Cœuré said. Like Ludwig Erhard did by establishing the social market economy after the war, euro area countries today need to go on with fiscal, structural and institutional reforms to revive the area’s productivity potential. Monetary policy can only facilitate that process but not change the long-term path. “Governments should not view the current period of low interest rates and favourable market sentiment as an invitation to abandon the path of fiscal prudence.”

Cœuré said that the measures the ECB’s governing council had agreed in June have been warranted because of the low inflation in the euro area as a whole and also in Germany. The fall in German inflation was adding the risk of a race to the bottom for the euro area as a whole, with potentially disruptive economic consequences. “We had to act, otherwise we would not have lived up to our mandate.”

On the complaints of German savers he said that, as shown by the Bundesbank, the current low real rate of return is not exceptional historically. In fact, the real rate of return on deposits had been persistently negative during previous decades, but savers had not realised it because of higher inflation.

Preisstabilität – Grundlage einer nachhaltigen Erholung

Rede von Benoît Cœuré, Mitglied des Direktoriums der EZB,
Wirtschaftstag 2014,
Berlin, 3. Juli 2014

Nur durch eine Stärkung des Produktionspotenzials, die durch nachhaltiges Wachstum in der Eurozone und die Sicherung der Preisstabilität erreicht wird, wird zu einer Normalisierung der wirtschaftlichen Bedingungen führen, einschließlich der Normalisierung der Renditen auf Spareinlagen, sagte Benoît Cœuré, Mitglied des EZB-Direktoriums. Cœuré erläuterte beim Wirtschaftstag in Berlin die geldpolitischen Entscheidungen der EZB vor dem Hintergrund geringer Wachstumsraten und niedriger Inflation. „In einer stagnierenden Wirtschaft klagen Sparer über niedrige Erträge, während sich Kreditnehmer über zu restriktive Darlehenskonditionen beschweren.“ Nur eine Wirtschaft mit nachhaltigem Wachstum und Preisstabilität könne dieses Dilemma auflösen.

„Die einzige Möglichkeit, einen Weg aus diesem Niedrigzinsumfeld zu finden, besteht darin, das Produktionspotenzial der Wirtschaft im Euroraum wieder anzukurbeln“, sagte Cœuré. Wie es Ludwig Erhard nach dem Krieg gelungen sei, die soziale Marktwirtschaft einzuführen, müssten heute die Regierungen der Euro-Staaten ihre haushaltspolitischen, strukturellen und institutionellen Reformen konsequent fortsetzen, um das Produktionspotenzial zu steigern. Geldpolitik könne diesen Prozess nur erleichtern, nicht aber den langfristigen Wachstumspfad verändern. „Regierungen sollten die aktuelle Phase niedriger Zinsen und einer positiven Stimmung an den Märkten nicht als Einladung verstehen, ihren vorsichtigen haushaltspolitischen Kurs aufzugeben.“

Cœuré erklärte, die bei der Juni-Sitzung des EZB-Rates beschlossenen Maßnahmen seien wegen der niedrigen Inflation in der Eurozone insgesamt und auch in Deutschland gerechtfertigt gewesen. Der Rückgang der Preissteigerung in Deutschland sei ein zusätzliches Risiko für einen Abwärtswettlauf im gesamten Währungsgebiet und ein Risiko für die Erreichung des von den Europäischen Verträgen strikt vorgegeben Mandats der Preisstabilität. „Wir mussten handeln, sonst wären wir unserem Auftrag nicht gerecht geworden.“

3/7/2014
Peter Praet:  Current issues of monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, 8th Kiel Institute Summer School on Economic Policy: Reassessing Monetary Policy, Kiel, 3 July 2014
24/6/2014
Benoît Cœuré:  Rethinking economics after the crisis
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, during the panel discussion at the third conference of the ECB Macro-prudential Research Network, Frankfurt, 24 June 2014
11/6/2014
Yves Mersch:  Next steps for European securitisation markets
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the IMN Global ABS Conference, Barcelona, 11 June 2014
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31/5/2014
Yves Mersch:  Law, money and market: the legal dimension of monetary policy
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Information Club Meeting, Luxembourg, 31 May 2014
27/5/2014
Peter Praet:  Monetary policy and balance sheet adjustment
Speech by Peter Praet, Member of the Executive Board of the ECB, at ECB Forum on Central Banking, Sintra, 27 May 2014
24/5/2014
Yves Mersch:  Finance in an environment of downsizing banks
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, at Shanghai Forum 2014 “Asia Transforms: Identifying New Dynamics” Shanghai, 24 May 2014
23/5/2014
Sabine Lautenschläger:  Making the comprehensive assessment a success
Speech by Sabine Lautenschläger, Member of the Executive Board of the ECB, at the Expansión – 5th Financial Event, Madrid, 23 May 2014
19/5/2014
Yves Mersch:  Rede bei der BayernLB Fixed Income Conference
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, München, 19. Mai 2014
19/5/2014
Benoît Cœuré:  Completing the single market in capital
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, ICMA Capital Market Lecture Series 2014, Paris, 19 May 2014
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19/5/2014
Yves Mersch:  Euro banknotes – a means of payment recognised worldwide
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Bargeldsymposium of the Deutsche Bundesbank, Frankfurt, 19 May 2014
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15/5/2014
Yves Mersch:  EU integration and the road to the euro area
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the conference “The World isn’t Flat – Why place matters and what it means for us” organised by ASPIRE, Kraków, 15 May 2014
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14/5/2014
Yves Mersch:  Keynote speech at 70th Banking Conference of German Cooperative Banks
Speech by Yves Mersch, Member of the Executive Board of the ECB, 70th Banking Conference of German Cooperative Banks, Berlin, 14 May 2014
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14/5/2014
Yves Mersch:  Keynote speech
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the “Welt” Währungskonferenz, Berlin, 14 May 2014
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5/5/2014
Yves Mersch:  Institutional overhaul of the euro area – progress and remaining challenges
Speech by Yves Mersch, Member of the Executive Board of the ECB, at a conference organised by the Association Européenne de Droit Bancaire et Financier Luxembourg, Luxembourg, 5 May 2014
30/4/2014
Benoît Cœuré:  The internationalisation of monetary policy
Keynote address by Benoît Cœuré, Member of the Executive Board of the ECB, at the ECB-IMF conference on the “International dimension of conventional and unconventional monetary policy”, Frankfurt, 30 April 2014

Summary

The internationalisation of monetary policy

Keynote address by Benoît Cœuré, Member of the Executive Board of the ECB,
at the ECB-IMF conference on the “International dimension of conventional and unconventional monetary policy”,
Frankfurt, 30 April 2014

The case for formal central bank cooperation remains limited, and practical consideration makes its implementation difficult. That said, central banks need to be engaged in a constant dialogue so as to remain ready for rapid coordinated action in exceptional circumstances. And they should strive to strengthen the global financial safety nets so that they can better address global or regional liquidity crises and limit the case for self-insurance by countries.

17/4/2014
Yves Mersch:  Launching the ECB-coordinated technical cooperation with central banks of the Western Balkan
Introductory remarks by Yves Mersch, Member of the Executive Board of the ECB, at the press conference on the opening of cooperation programme in Western Balkans, Tirana, Albania, 17 April 2014
13/4/2014
Benoît Cœuré:  Asset purchases as an instrument of monetary policy
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the high-level conference on "Monetary Policy in the New Normal” organised by the IMF Washington D.C., 13 April 2014
10/4/2014
Peter Praet:  The financial cycle and real convergence in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Annual Hyman P. Minsky Conference on the State of the US and World Economies, Washington D.C., 10 April 2014
7/4/2014
Yves Mersch:  Banks, SMEs and securitisation
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Deutsche Boerse – Clearstream ‘Exchange of Ideas’ event, London, 7 April 2014
31/3/2014
Benoît Cœuré:  The known unknowns of central clearing
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the meeting on global economy and financial system hosted by the University of Chicago Booth School of Business Initiative on Global Markets, Coral Gables, 29 March 2014
24/3/2014
Yves Mersch:  Efficient retail payments: key in strengthening the competitiveness and growth potential of the EU
Speech by Yves Mersch, Member of the Executive Board of the ECB at the ECB/Banca d’Italia Workshop on Interchange Fees, Rome 24 March 2014
13/3/2014
Benoît Cœuré:  Monetary Policy Transmission and Bank Deleveraging
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at “The Future of Banking Summit” organised by “The Economist”, Paris, 13 March 2014
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Summary

Monetary Policy Transmission and Bank Deleveraging

Speech by Benoît Cœuré, Member of the Executive Board of the ECB,
at “The Future of Banking Summit” organised by “The Economist”,
Paris, 13 March 2014

Deleveraging is not a process that policy-makers should seek to avoid; rather, it needs to take place and be properly managed, explains ECB Executive Board member Benoît Cœuré. Describing the good, the bad and the ugly deleveraging at the Future of Banking Summit organised by “The Economist” in Paris, he emphasises how the wrong type of deleveraging could impede recovery and make it more difficult for central banks to engineer an appropriate degree of monetary accommodation.

To ensure the right type of deleveraging is achieved, Mr. Cœuré highlights, “both monetary policy and prudential supervision – notably the ECB’s ongoing comprehensive assessment – have a key role to play.” According to him, the comprehensive assessment of banks’ balance sheets and the steps taken towards the banking union are crucial to establish the conditions necessary for a transparent, competitive and stable banking sector. He adds, “and they will help monetary policy to regain traction across the euro area.”

He concludes by explaining why it is important for the banking union to be complete, “Not moving promptly towards a single resolution mechanism (SRM) and a single resolution fund (SRF) would prolong financial fragmentation, leave the financial system exposed to systemic fragility, and, ultimately, be harmful for growth and jobs. This would in particular be the case if the SRF is only slowly mutualised, and if it cannot resort to a common European backstop from the outset.”

12/3/2014
Peter Praet:  Current issues and challenges for central bank communication
Speech by Peter Praet, Member of the Executive Board of the ECB, at the conference The ECB and Its Watchers XV, Frankfurt am Main, 12 March 2014

Summary

Current issues and challenges for central bank communication

Speech by Peter Praet, Member of the Executive Board of the ECB,
at the conference The ECB and Its Watchers XV
Frankfurt am Main, 12 March 2014

Communication is always key for effective monetary policy-making, and the benefits of good communication are greatly increased in difficult times, says ECB Board member Peter Praet. Speaking at a conference of ECB watchers at Frankfurt he emphasises that central banks have been communicating more intensely during the crisis and by steering expectation more firmly their communication have had a stabilising effect. “We communicate what we are trying to achieve, and how we go about achieving it”, Mr Praet says. Notably, forward guidance has emerged as a useful complement to existing tools, he adds.

The introduction of Outright Monetary Transactions is according to Mr Praet an example of how communication added to the effectiveness of monetary policy tools. The ECB reaffirmed its commitment to the price stability mandate, as the pricing-in of unwarranted denomination scenarios could be a potential serious obstacle to fulfilling the mandate. He adds, “The OMT communication – unusual as it was in substance, for the ECB and probably for the entire community of central banks – was in fact strictly coherent with our general communication approach. It was a well-articulated frame of reference for our actions.”

Until now the ECB has resisted publishing accounts of the Governing Council meetings, Mr Praet states. One reason was according to him, that offering even more information on the ECB’s policy deliberations, in addition to what was already being provided, would come at the expense of clarity. On the other hand, publishing an account of the policy deliberations has now become “best practice” in the central banking community. Moreover, circumstances have changed, economic uncertainty has increased and the tools used now include non-standard measures. He highlighted: “It is important for us to provide the public with a fuller picture of the internal debate: we need to explain ourselves better.” To avoid a “cacophony problem”, with many voices tending to obscure the message, Mr Praet says he would favour to convey the content of the debate and the balance of views of Governing Council members.

Mr Praet concludes by explaining that the value of clarity in central bank communication is particularly evident in a financial crisis. He emphasises, “But communication – no matter how clear – only works if the communicator is credible. The ECB has a track record of following up words with deeds, and we intend to maintain it.”

7/3/2014
Yves Mersch:  Externe Unternehmensfinanzierung im Euroraum: Herausforderungen und Chancen
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, GEFIU Tagung, Hause der Allianz, München, 7. März 2014
26/2/2014
Yves Mersch:  China: Progressing towards financial market liberalisation and currency internationalisation
Speech by Yves Mersch, Member of the Executive Board of the ECB Renminbi Forum Luxembourg, 26 February 2014
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18/2/2014
Peter Praet:  Reforms and growth in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, Panel intervention “Fixing finance”, The Economist‘s Lisbon Summit, Lisbon, 18 February 2014
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13/2/2014
Benoît Cœuré:  Exchange of views of Benoît Cœuré with ECON on troika matters
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB, Brussels, 13 February 2014
7/2/2014
Yves Mersch:  Reviving growth in the euro area
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Institute of International European Affairs, Dublin, 7 February 2014
ENGLISH
OTHER LANGUAGES (5) +
3/2/2014
Sabine Lautenschläger:  Confirmation hearing for the Vice-Chair of the SSM Supervisory Board
Introductory statement by Sabine Lautenschläger, Member of the Executive Board of the ECB, Strasbourg, 3 February 2014
31/1/2014
Benoît Cœuré:  The structural aspects of euro area adjustment
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at Ljubljana University, Ljubljana, 31 January 2014
30/1/2014
Benoît Cœuré:  Is eurozone governance fit for purpose?
Keynote speech by Benoît Cœuré, Member of the Executive Board of the ECB, at a dinner organised by the Centre for European Reform, London, 30 January 2014
23/1/2014
Benoît Cœuré:  Risks in CCPs
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the policy panel during the conference "Mapping and Monitoring the Financial System: Liquidity, Funding, and Plumbing" organised by Office of Financial Research and Financial Stability Oversight Council, Washington D.C., 23 January 2014
22/1/2014
Benoît Cœuré:  The “fourth stage” of EMU: laying the foundations for a sustained recovery
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Interparliamentary Conference on Economic Governance of the European Union, in the context of the European Parliamentary Week, Brussels, 21 January 2014
15/1/2014
Yves Mersch:  Opening of the New Face of the Euro Exhibition
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Deutsche Bundesbank, Saarbrücken, 15 January 2014
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13/1/2014
Yves Mersch:  “Europe after the warm reboot”
Speech by Yves Mersch, Member of the Executive Board of the ECB, Munich Seminars, Ifo Institute for Economic Research, University of Munich, 13 January 2014
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13/1/2014
Yves Mersch:  Unveiling the new €10 banknote
Speech by Yves Mersch, Member of the Executive Board of the ECB, Frankfurt am Main, 13 January 2014
13/12/2013
Peter Praet:  Economic Recovery in the Euro Area – The role of Monetary Policy
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Belgian Financial Forum at the University of Antwerp, Antwerp, 13 December 2013
12/12/2013
Jörg Asmussen:  Introductory remarks at the press conference on the completion of the EU-funded cooperation programme with the National Bank of Serbia
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, Belgrade, 12 December 2013
9/12/2013
Yves Mersch:  Euro area monetary policy: where we stand
Speech by Yves Mersch, Member of the Executive Board of the ECB, 28. Internationales ZinsFORUM 2013: Zinsen 2014 Frankfurt, 9 December 2013
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6/12/2013
Benoît Cœuré:  The future of Europe: building on our strengths
Introductory remarks by Benoît Cœuré, Member of the Executive Board of the ECB at the plenary session on “The Future of Europe” during the fifth German Economic Forum Frankfurt, 6 December 2013
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4/12/2013
Yves Mersch:  Auf dem Weg zur Europäischen Bankenunion: Chancen nutzen, Risiken beherrschen
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, Fachtagung Risikocontrolling und –management Deutscher Sparkassen und Giroverband „Auf der Suche nach Performance“, Berlin, 4. Dezember 2013
29/11/2013
Yves Mersch:  Mastering the crux of defragmentation
Speech by Yves Mersch, Member of the Executive Board of the ECB, SAFE Conference on Financial Market Policy, Goethe University Frankfurt, Frankfurt am Main, 29 November 2013
28/11/2013
Jörg Asmussen:  Changing Reality
Intervention of Jörg Asmussen, Member of the Executive Board of the ECB, at the Panel Discussion “Reverse Reality - What If: “Lehman Sisters’ or the Sisterhood Ran G20 and Big Business?”, Women in Parliament, Global Forum, Brussels, 28 November 2013
27/11/2013
Jörg Asmussen:  Fünf Jahre Krise – wo steht Europa heute?
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Martinsgansessen Nordmetall, Hamburg, 27. November 2013
26/11/2013
Yves Mersch:  Economic and legal limits of central banking
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, IMFS Conference on Monetary and Financial Stability, Frankfurt am Main, 26 November 2013
23/11/2013
Benoît Cœuré:  The political dimension of European economic integration
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, At the 19th Université d’automne de la Ligue des droits de l’Homme, Paris, 23 November 2013
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21/11/2013
Jörg Asmussen:  Europe 2014 – an outlook from the ECB
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the Council on Foreign Relations, New York, 21 November 2013
19/11/2013
Peter Praet:  Steering the economy in a challenging environment
Speech by Peter Praet, Member of the Executive Board of the ECB, at the 16th Euro Finance Week, Frankfurt am Main, 19 November 2013
18/11/2013
Jörg Asmussen:  Economic convergence across Central, Eastern and South Eastern Europe: Achievements and challenges
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, CEEI conference ‘Financial Cycles and the Real Economy: Lessons for CESEE’, Vienna, 18 November 2013
18/11/2013
Yves Mersch:  On the road to a banking union: the way forward from the ECB’s perspective
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the 16th Euro Finance Week, Frankfurt am Main, 18 November 2013
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15/11/2013
Yves Mersch:  The overhaul of the architecture of the euro area 
and the return of investor confidence
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the CFA Institute European Investment Conference “Beyond Austerity: Opportunities for European Investors in the Global Market”, London, 15 November 2013
13/11/2013
Yves Mersch:  SMEs, Banking Union, and securitisation – 
exploring the nexus
Keynote speech by Yves Mersch, Member of the Executive Board of the ECB, EIB, in cooperation with RBWC and the EURO 50 Group: “Investment and Investment Finance: Putting Europe on a sustainable growth path”, Luxembourg, 13 November 2013
12/11/2013
Jörg Asmussen:  The Costs and Benefits of Unorthodox Monetary Policy
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at European Conference 2013 organised by UBS, London, 12 November 2013.
11/11/2013
Benoît Cœuré:  Savers aren’t losing out
Opinion piece by Benoît Cœuré, Member of the Executive Board of the ECB, published on the Handelsblatt on 11 November 2013.
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8/11/2013
Jörg Asmussen:  The public and the private banking union
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the joint conference “The Single Resolution Mechanism and the Limits of Bank-Regulation” Humboldt Universität/Financial Risk and Stability Net-work in Berlin Berlin, 8 November 2013
8/11/2013
Yves Mersch:  Intergenerational Justice in Times of Sovereign Debt Crises
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Minsky Conference in Greece organised by the Levy Economics Institute Athens, 8 November 2013
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5/11/2013
Jörg Asmussen:  Banking Union – essential for the ins, desirable for the outs!
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the Danske Bank Financial Forum 2013, Stockholm, 5 November 2013
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28/10/2013
Benoît Cœuré:  Lessons from East Asia for the euro area
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Asia Europe Economic Forum on “Challenges and Prospects for Asian and European Economies", Beijing, 28 October 2013
25/10/2013
Jörg Asmussen:  Cooperation and diversity: principles for a stable euro area
Acceptance speech by Jörg Asmussen, Member of the Executive Board of the ECB, at Bocconi University on the occasion of the award ceremony “Alumnus of the Year” Milan, 25 October 2013
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21/10/2013
Benoît Cœuré:  Retail payments at a crossroads
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at a joint conference by the European Central Bank and the Banque de France, “Retail Payments at a Crossroads: Economics, Strategies and Future Policies”, Paris, 21 October 2013
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18/10/2013
Peter Praet:  Household heterogeneity and the transmission mechanism
Dinner speech by Peter Praet, Member of the Executive Board of the ECB, ECB Conference on Household Finance and Consumption, Frankfurt am Main, 17 October 2013
17/10/2013
Benoît Cœuré:  The relevance of household-level data for monetary policy and financial stability analysis
Opening remarks by Benoît Cœuré, Member of the Executive Board of the ECB, at the ECB Conference on Household Finance and Consumption, Frankfurt am Main, 17 October 2013
12/10/2013
Jörg Asmussen:  Introductory statement for the panel discussion on “The G20 and the future of global economic governance”
Statement by Jörg Asmussen, Member of the Executive Board of the ECB, at the IIF Annual Membership Meeting, Washington D.C., 12 October 2013
9/10/2013
Benoît Cœuré:  The economic consequences of low interest rates
Public lecture by Benoît Cœuré, Member of the Executive Board of the ECB, at the International Center for Monetary and Banking Studies, Geneva, 9 October 2013
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7/10/2013
Peter Praet:  Japan and the EU in the global economy – challenges and opportunities
Speech by Peter Praet, Member of the Executive Board of the ECB, at the conference “Japan and the EU in the global economy – challenges and opportunities”, organised by Bruegel, the Graduate School of Economics, Kobe University, and Fondation France-Japon de l’EHESS, Brussels, 7 October 2013
3/10/2013
Benoît Cœuré:  Liquidity regulation and monetary policy implementation: from theory to practice
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Toulouse School of Economics, Toulouse, 3 October 2013
30/9/2013
Yves Mersch:  Towards a European Banking Union
Keynote Speech by Yves Mersch, Member of the Executive Board of the ECB, The Bridge Forum Dialogue, Luxembourg, 30 September 2013
30/9/2013
Benoît Cœuré:  The implications of bail-in rules for bank activity and stability
Opening speech by Benoît Cœuré, Member of the Executive Board of the ECB at Conference on “Financing the recovery after the crisis- the roles of bank profitability, stability and regulation”, Bocconi University, Milan, 30 September
26/9/2013
Benoît Cœuré:  The usefulness of forward guidance
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, before the Money Marketeers Club of New York, New York, 26 September 2013
26/9/2013
Yves Mersch:  A regime change in supervision and resolution
Keynote Speech by Yves Mersch, Member of the Executive Board of the ECB, European Supervisor Education (ESE) Conference, Frankfurt, 26 September 2013
ENGLISH
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24/9/2013
Yves Mersch:  Neueste politische Entscheidungen zur Bankenunion und ihre Auswirkungen auf die EZB als Aufsichtsbehörde
Rede von Yves Mersch, Mitglied des Direktoriums der EZB, Generalversammlung der Österreichischen Bankwissenschaftlichen Gesellschaft (BWG), Wien, den 24. September 2013
11/9/2013
Benoît Cœuré:  Four years after Pittsburgh: 
What has OTC derivatives reform achieved so far
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at joint Banque de France, Bank of England and ECB conference on OTC derivatives reform, Paris, 11 September 2013
10/9/2013
Jörg Asmussen:  The global monetary policy stance: what are the risks?
Speech by Jörg Asmussen, Member of the Executive Board of the ECB Bruegel Annual Meeting Brussels, 10 September 2013
6/9/2013
Yves Mersch:  Monetary policy and financial stability under one roof
Keynote Speech at the 6th Policy Roundtable of the European Central Bank: “The future of global policy coordination” Yves Mersch, Member of the Executive Board of the ECB, 6 September 2013
4/9/2013
Jörg Asmussen:  Towards a banking union – the state of play from the ECB’s perspective
Speech by Jörg Asmussen, Member of the Executive Board of the ECB Handelsblatt Conference “Banken im Umbruch” Frankfurt, 4 September 2013
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2/9/2013
Benoît Cœuré:  Outright Monetary Transactions, one year on
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the conference “The ECB and its OMT programme”, organised by Centre for Economic Policy Research, German Institute for Economic Research and KfW Bankengruppe Berlin, 2 September 2013
29/8/2013
Yves Mersch:  The single market and banking union
Speech by Yves Mersch, Member of the Executive Board of the ECB, European Forum Alpbach 2013, Alpbach, 29 August 2013
25/8/2013
Jörg Asmussen:  Auf dem Weg zum Euro – allegro ma non troppo
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Abschlussveranstaltung des Schleswig-Holstein Musik Festival (SHMF), 25 August 2013, Gut Schierensee
6/8/2013
Peter Praet:  Forward guidance and the ECB
Column by Peter Praet, Member of the Executive Board of the ECB, published on VoxEU.org on 6 August 2013
15/7/2013
Benoît Cœuré:  COGESI workshop on collateral eligibility requirements
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Frankfurt am Main, 15 July 2013
15/7/2013
Benoît Cœuré:  Triparty Settlement Interoperability
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Frankfurt am Main, 15 July 2013
11/7/2013
Benoît Cœuré:  Reviving credit growth in the euro area
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Paris Europlace International Financial Forum “Growth and Investment Opportunities in Europe”, Paris, 11 July 2013
10/7/2013
Jörg Asmussen:  Opening remarks at the closing ceremony of the Eurosystem Needs Analysis Project funded by the European Union
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, Skopje, 10 July 2013
10/7/2013
Benoît Cœuré:  Non-standard monetary policy measures: where do we stand?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the International Monetary Seminar “Sovereign Risk, Bank Risk and Central Banking” organised by the Banque de France, Paris, 10 July 2013
9/7/2013
Jörg Asmussen:  Building Banking Union
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the Atlantic Council, London, 9 July 2013
5/7/2013
Benoît Cœuré:  Monetary Policy and the Risk of a Lost Decade
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at the Amundi World Investment Forum 2013 “Mapping uncharted territories of investing”, Paris, 5 July 2013
27/6/2013
Yves Mersch:  The single supervisory mechanism – a step towards a European banking union
Speech by Yves Mersch, Member of the Executive Board of the ECB, University of the Deutsche Bundesbank, Hachenburg, 27 June 2013
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26/6/2013
Jörg Asmussen:  Intervention in a panel on “The Future of Europe”
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at IIF 2013 Spring Membership Meeting Paris, 26 June, 2013
25/6/2013
Benoît Cœuré:  Duration Risk in the Financial System
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at “The Global Borrowers & Investors Forum 2013 - A Euromoney Conference”, London, 25 June 2013
23/6/2013
Jörg Asmussen:  The global crisis: lessons for international policy cooperation
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, Kiel Institute for the World Economy, Kiel, 23 June 2013
17/6/2013
Yves Mersch:  The European Central Bank’s role in overcoming the Crisis
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the UniCredit Business Dialogue, Hamburg, 17 June 2013
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17/6/2013
Jörg Asmussen:  Ausblick auf eine europäische Bankenunion
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Rede anlässlich des Magdeburger Finanzmarktdialogs, 15 Jahre Europäische Zentralbank – Entwicklung, Gegenwart und Zukunft, Magdeburg, 17. Juni 2013
14/6/2013
Jörg Asmussen:  Reintegrating financial markets
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the General Assembly of the European Savings Banks Group, Berlin, 14 June 2013
13/6/2013
Yves Mersch:  Monetary policy in an environment of low growth and interest rates
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Nordea 3rd Annual Nordic AAA Seminar, Copenhagen, 13 June 2013
11/6/2013
Jörg Asmussen:  Introductory statement by the ECB in the proceedings before the Federal Constitutional Court
Jörg Asmussen, Member of the Executive Board of the ECB, Karlsruhe, 11 June 2013
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10/6/2013
Benoît Cœuré:  Monetary policy in a fragmented world
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the 41st Economics Conference of the Oesterreichische Nationalbank, Vienna, 10 June 2013
3/6/2013
Benoît Cœuré:  Global liquidity and international risk-sharing in the post-crisis environment
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Bank of Korea International Conference 2013 “Assessing Global Liquidity in a Global Framework”, Seoul, 3 June 2013
23/5/2013
Benoît Cœuré:  The Single Resolution Mechanism: Why it is needed
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the ICMA Annual General Meeting and Conference 2013, organised by the International Capital Market Association, Copenhagen, 23 May 2013
22/5/2013
Peter Praet:  Monetary policy in the context of balance sheet adjustments
Speech by Peter Praet, Member of the Executive Board of the ECB, Peterson Institute for International Economics, Washington DC, 22 May 2013
17/5/2013
Yves Mersch:  “Built to Last”: The New Euro Area Framework
Speech by Yves Mersch, Member of the Executive Board of the ECB, Barclays Research Conference, London, 17 May 2013
17/5/2013
Benoît Cœuré:  Monetary policy in the crisis – Confronting short-run challenges while anchoring long-run expectations
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at the Journées de l’AFSE 2013 - La crise de l’Union Economique et Monétaire (UEM): Enjeux théoriques et perspectives de politique économique Université d’Orléans, 17 May 2013
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16/5/2013
Peter Praet:  Adjustment and growth in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, European Business Summit, Brussels, 16 May 2013
8/5/2013
Jörg Asmussen:  Exchange of views with the Economic and Monetary Affairs Committee of the European Parliament on financial assistance to Cyprus
Introductory Statement by Jörg Asmussen, Member of the Executive Board of the ECB, Brussels, 8 May 2013
6/5/2013
Yves Mersch:  The euro and the ECB: Perspectives and challenges ahead
Keynote address by Yves Mersch, Member of the Executive Board of the ECB, Journée Boursière, Luxembourg, 6 May 2013
3/5/2013
Benoît Cœuré:  Where to exit to? Monetary policy implementation after the crisis
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the 15th Geneva Conference on the World Economy: “Exit strategies: time to think about them” Geneva, 3 May 2013
29/4/2013
Jörg Asmussen:  CEEs and the crisis: current challenges and benefits
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, IIF Central and Eastern Europe CEO Conference, Berlin, 29 April 2013
25/4/2013
Jörg Asmussen:  Saving the euro
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, The Economist’s Bellwether Europe Summit, London, 25 April 2013
22/4/2013
Benoît Cœuré:  Euro banknotes: a secure means of payment and a symbol of Europe
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the conference “Preparations for the launch of the second series of euro banknotes: challenges and opportunities” organised by the European Central Bank and Oesterreichische Nationalbank, Vienna, 22 April 2013
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20/4/2013
Jörg Asmussen:  Eurozone cross-fire: the way out of economic recession - Assessment of a realist and a response to idealists and cynics
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the Bank of America/Merill Lynch Investor conference, Washington DC, 20 April 2013
18/4/2013
Jörg Asmussen:  Financial stability in Europe and the progress towards banking union
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the event “The Way Forward for the Eurozone and Europe: A Conversation with European Policymakers” organised by Brookings Institution and the Center for the United States and Europe, Washington, 18 April 2013
17/4/2013
Peter Praet:  The crisis response in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, at the afternoon session “The Challenges Ahead” at Pioneer Investments’ Colloquia Series “Redrawing the Map: New Risk, New Reward” organised by Unicredit S.p.A., Beijing, 17 April 2013
15/4/2013
Benoît Cœuré:  Harmonising cashless payments: the SEPA experience
Dinner speech by Benoît Cœuré, Member of the Executive Board of the ECB, ECB Seminar “Sharing the European Experience in Retail Payments Integration and Innovation”, InterContinental Hotel, Silhouette Room, 7.00 p.m. Frankfurt am Main, 15 April 2013
11/4/2013
Benoît Cœuré:  SME financing, market innovation and regulation
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Eurofi High Level Seminar organised in association with the Irish Presidency of the Council of the EU, Contribution to plenary Session 11: Challenges and feasibility of diversifying the financing of EU corporates and SMEs, Dublin, 11 April 2013
5/4/2013
Yves Mersch:  The Banking Union - a European perspective: reasons, benefits and challenges of the Banking Union
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the seminar “Auf dem Weg zu mehr Stabilität – Ein Dialog über die Ausgestaltung der Bankenunion zwischen Wissenschaft und Praxis“ organised by Europolis and Wirtschaftswoche, Berlin, 5 April 2013
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2/4/2013
Benoît Cœuré:  Currency fluctuations: the limits to benign neglect
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the luncheon panel: Currency Wars and the G-20’s Goal of Strong, Sustainable, and Balanced Growth, Conference on Currency Wars: Economic Realities, Institutional Responses, and the G-20 Agenda, Peterson Institute for International Economics, Washington, DC, 2 April 2013
25/3/2013
Yves Mersch:  Opening of the “New Face of the Euro” exhibition
Speech by Yves Mersch, Member of the Executive Board of the ECB, at the Banco de España, Madrid, 25 March 2013
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20/3/2013
Jörg Asmussen:  Is Europe on the right track?
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at Deutsche Bank Women in European Business conference “Competition versus Coalition – the quest for growth?”, Frankfurt am Main, 20 March 2013
19/3/2013
Yves Mersch:  Closing remarks at the ECB/EU Commission conference on “Post-trade harmonisation and financial integration in Europe”
Speech by Yves Mersch, Member of the Executive Board of the ECB, Frankfurt am Main, 19 March 2013
18/3/2013
Jörg Asmussen:  Die Rolle der Europäischen Zentralbank in der Europäischen Schuldenkrise
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Veranstaltung der Schwarzkopf-Stiftung “Junges Europa“, Berlin, 18. März 2013
18/3/2013
Jörg Asmussen:  Die Krise im sechsten Jahr – was bleibt zu tun?
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, auf der Konferenz „Die Bankenunion: Wie lässt sich das Monster zähmen?“, organisiert von der Friedrich-Ebert-Stiftung, Berlin, 18. März 2013
12/3/2013
Benoît Cœuré:  The way back to financial integration
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, International financial integration and fragmentation: Drivers and policy responses. Conference organised by the Banco de España and the Reinventing Bretton Woods Committee, Madrid, 12 March 2013
4/3/2013
Yves Mersch:  Financial stability policies in central banks
Speech by Yves Mersch, Member of the Executive Board of the ECB, Seminar: “Financial Stability Policies in a Post-Crisis World” Czech National Bank, 4 March 2013
2/3/2013
Benoît Cœuré:  Revisiting the European social contract
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the European Conference at Harvard Europe 2.0 - Taking The Next Step, Cambridge MA, 2 March 2013
27/2/2013
Yves Mersch:  The European banking union – first steps on a long march
Speech by Yves Mersch, Member of the Executive Board of the ECB, Finanzplatztag, 27 February 2013
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27/2/2013
Peter Praet:  Economic adjustment in the euro area
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Institutional Money Congress 2013, Frankfurt am Main, 27 February 2013
22/2/2013
Jörg Asmussen:  The future of global economic governance
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, Hertie School of Governance, Berlin, 22 February 2013
22/2/2013
Benoît Cœuré:  Adjustment and growth in the euro area economies
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Nova School of Business and Economics and the Banco de Portugal, Lisbon, 22 February 2013
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13/2/2013
Peter Praet:  Transition of the financial system 
in the wake of the financial crisis
Speech by Peter Praet, Member of the Executive Board of the ECB, at the 8th annual European Market Liquidity Conference of the Association of Financial Markets in Europe, London, 13 February 2013
7/2/2013
Benoît Cœuré:  Monetary Policy and Banking Supervision
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Symposium: “Central Banking: Where Are We Headed?” in honour of Stefan Gerlach’s contribution to the Institute for Monetary and Financial Stability, Goethe University, Frankfurt, 7 February 2013
29/1/2013
Peter Praet:  Speech on the occasion of the “Annual Danish Top Executive Summit 2013”
Speech by Peter Praet, Member of the Executive Board, at the “Annual Danish Top Executive Summit 2013”, Copenhagen, 29 January 2013
21/1/2013
Benoît Cœuré:  The three dimensions of the euro area crisis
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Asia-Europe Economic Forum conference on European troubles, Asian worries, Brussels, 21 January 2013
18/1/2013
Benoît Cœuré:  Euro area financial regulation: where do we stand? (slides from the presentation)
Presentation by Benoît Cœuré, Member of the Executive Board of the ECB, at the meeting organised by the International Capital Markets Association in Paris, France, 18 January 2013
16/1/2013
Benoît Cœuré:  Ensuring the smooth functioning of money markets
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 17th Global Securities Financing Summit, Luxembourg, 16 January 2013
19/12/2012
Jörg Asmussen:  Agenda 2013: the next steps in completing EMU
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at Internationaler Club Frankfurter Wirtschaftsjournalisten, Frankfurt am Main, 19 December 2012
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13/12/2012
Benoît Cœuré:  SME financing: a euro area perspective
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Conference on Small Business Financing jointly organised by the European Central Bank, Kelley School of Business at Indiana University, Centre for Economic Policy Research and Review of Finance, Frankfurt am Main, 13 December 2012
6/12/2012
Benoît Cœuré:  Central banking, insurance and incentives
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, ECB conference: “Debt, Growth and Macroeconomic Policies”, Frankfurt, 6 December 2012
6/12/2012
Jörg Asmussen:  Reformen in der Eurozone 2012/2013
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Rede anlässlich des 27. Internationalen Zinsforums Frankfurt, 6. Dezember 2012
1/12/2012
Benoît Cœuré:  Restoring trust in Economic and Monetary Union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Forum Eco Libération ESCP, “Reprendre confiance en (l’)Europe”, panel discussion: “L’Euro méfiance, c’est fini?”, Paris, 1 December 2012,
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30/11/2012
Peter Praet:  The “Great Rebalancing” of the euro area and the global economy
Speech by Peter Praet, Member of the Executive Board of the ECB, Keynote speech for the Hamburg Summit: China meets Europe, 30 November 2012
29/11/2012
Jörg Asmussen:  Die Zukunft der Währungsunion aus Sicht der EZB
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Rede beim Jahresempfang des Verbands deutscher Pfandbriefbanken (vdp), Berlin, 29. November 2012
28/11/2012
Benoît Cœuré:  Challenges facing financial integration and financial stability
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 3rd Pan-Asian Regulatory Summit organised by Thomson Reuters, Hong Kong, 28 November 2012
26/11/2012
Peter Praet:  Deleveraging and monetary policy
Speech by Peter Praet, Member of the Executive Board of the ECB, Hyman P. Minsky Conference on “Debt, deficits and unstable markets”, Berlin, 26 November 2012
21/11/2012
Benoît Cœuré:  SEPA migration, innovation and change
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the European Payments Council off-site meeting, La Hulpe, 21 November 2012
19/11/2012
Benoît Cœuré:  Towards a consistent, coherent and complete Economic and Monetary Union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the conference “Financial Stability and the Single Market – the Keys to Growth in Europe” on the occasion of the 20th anniversary of the Single Market organised by the European Commission, Brussels, 19 November 2012
15/11/2012
Benoît Cœuré:  The euro as a trusted means of payment
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the joint ECB-MNB conference on “Cost and efficiency of retail payments: Evidence, policy actions and role of central banks”, Budapest, 15 November 2012
15/11/2012
Jörg Asmussen:  Die europäische Wirtschaftsverfassung: Wettbewerbsfähigkeit, solide Staatsfinanzen und Fairness
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Rede beim Versicherungstag 2012 des GDV, Berlin, 15. November 2012
14/11/2012
Jörg Asmussen:  Wie wir die Risiken in Europa meistern können
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Union Investment Risikomanagement-Konferenz, Mainz, 14. November 2012
26/10/2012
Benoît Cœuré:  Which models do we need in times of crisis?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Banque de France, CEPREMAP, Federal Reserve Bank of Atlanta and Centre d’Analyse Stratégique international conference on “Macroeconomic Modeling in Times of Crisis” Paris, 26 October 2012
26/10/2012
Peter Praet:  Deleveraging and the role of central banks
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Conference: The Effect of Tighter Regulatory Requirements on Bank Profitability and Risk-Taking Incentives, Milan, 26 October 2012
26/10/2012
Jörg Asmussen:  The Two-Speed Economy – Strategien für eine bipolare Welt
Keynote von Jörg Asmussen, Mitglied des Direktoriums der EZB, The Boston Consulting Group 79. Kronberger Strategiekonferenz, Kronberg, 26. Oktober 2012
17/10/2012
Benoît Cœuré:  What can monetary policy do about inequality?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, International Day for the Eradication of Poverty, Intergroup “Extreme Poverty and Human Rights, Fourth World Committee” event, European Parliament, Brussels, 17 October 2012
12/10/2012
Jörg Asmussen:  The Eurozone and Japan: The Way Forward
Intervention on the panel by Jörg Asmussen, Member of the Executive Board of the ECB, at the 2012 Annual Meetings of the IMF and World Bank Group, Tokyo, 12 October 2012
10/10/2012
Peter Praet:  The role of money in a market economy
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Bargeldsymposium organised by the Deutsche Bundesbank, Frankfurt am Main, 10 October 2012
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8/10/2012
Benoît Cœuré:  Why the euro needs a banking union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at the conference “Bank funding – markets, instruments and implications for corporate lending and the real economy” Frankfurt am Main, 8 October 2012
1/10/2012
Jörg Asmussen:  Aktuelle Herausforderungen für die Währungsunion
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, anlässlich des 60sten Geburtstags der Österreichischen Bankwissenschaftlichen Gesellschaft, Wien, 1. Oktober 2012
1/10/2012
Benoît Cœuré:  Collateral scarcity – a gone or a going concern?
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, ECB-DNB Joint central bank seminar on collateral and liquidity, Amsterdam, 1 October 2012
27/9/2012
Peter Praet:  Adjustment in the euro area: Impressive, but still incomplete
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Eurofi Financial Forum, Genval, Belgium, 27 September 2012
23/9/2012
Benoît Cœuré:  Completing Europe’s Economic and Monetary Union
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at the Palestinian Public Finance Institute Ramallah, 23 September 2012
20/9/2012
Jörg Asmussen:  New ECB Premises topping out ceremony
Welcome address by Jörg Asmussen, Member of the Executive Board of the ECB, Frankfurt am Main, 20 September 2012
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20/9/2012
Benoît Cœuré:  Challenges to the single monetary policy and the ECB’s response
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Institut d’études politiques, Paris, 20 September 2012
11/9/2012
Jörg Asmussen:  Stability guardians and crisis managers: central banking in times of crisis and beyond
Distinguished Lecture by Jörg Asmussen, Member of the Executive Board of the ECB, House of Finance, Goethe Universität Frankfurt am Main, 11 September 2012
4/9/2012
Jörg Asmussen:  Die Finanzmarktunion als Element einer stabilen Währungsunion?
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Handelsblatt Jahrestagung „Banken im Umbruch“, Frankfurt am Main, 4. September 2012
30/8/2012
Benoît Cœuré:  Opening remarks at the ECB workshop on “Markets for inflation protection: recent developments, modelling tools and policy implications”
Benoît Cœuré, Member of the Executive Board of the ECB, Frankfurt am Main, 30 August 2012
27/8/2012
Jörg Asmussen:  Zwischenbericht auf dem Weg in eine stabilere Wirtschafts- und Währungsunion
Rede von Jörg Asmussen, Mitglied des Direktoriums der EZB, Parlamentarischer Abend der Bundesbank Hauptverwaltung in Hamburg, Mecklenburg-Vorpommern und Schleswig-Holstein, Freie und Hansestadt Hamburg, 27. August 2012
20/7/2012
Benoît Cœuré:  Responses to the euro area crisis (slides from the presentation)
Benoît Cœuré, Member of the Executive Board of the ECB, Presentation at The Interactive Museum of Economics, Mexico City, 20 July 2012
20/7/2012
Benoît Cœuré:  Short-term crisis management and long-term vision: how Europe responds to the crisis
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, CEMLA’s 60th Anniversary Commemorative Conference, Central Bank Cooperation at the Beginning of the 21st Century, Mexico City, 20 July 2012
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17/7/2012
Jörg Asmussen:  Building deeper economic union: what to do and what to avoid
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, Policy Briefing at the European Policy Centre, Brussels, 17 July 2012
6/7/2012
Jörg Asmussen:  Building trust in a world of unknown unknowns: central bank communication between markets and politics in the crisis
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, European Communication Summit 2012, Brussels, 6 July 2012
2/7/2012
Jörg Asmussen:  Can we restore confidence in Europe?
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, 16th Economist roundtable with the Government of Greece, “Transforming uncertainty into stability, wisdom and growth”, Athens, 2 July 2012
28/6/2012
Benoît Cœuré:  The euro area sovereign debt market: lessons from the crisis
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, 12th IMF Annual Forum on Managing Sovereign Risk and Public Debt: “Managing Sovereign Debt: A Seismic Shift in demand and Supply Dynamics?”, Rio de Janeiro, 28-29 June 2012
18/6/2012
Jörg Asmussen:  Bankenrettung durch die EZB?
Einführende Bemerkungen von Jörg Asmussen, Mitglied des Direktoriums der EZB, Berlin, 18. Juni 2012
16/6/2012
Benoît Cœuré:  The importance of money markets
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the Morgan Stanley 16th Annual Global Investment seminar, Tourrettes, Provence, 16 June 2012
15/6/2012
Peter Praet:  Heterogeneity in a monetary union: What have we learned?
Speech by Peter Praet, Member of the Executive Board of the ECB, 15 June 2012
5/6/2012
Jörg Asmussen:  Introductory remarks to panel ‘Lessons from Latvia and the Baltics’
Jörg Asmussen, Member of the Executive Board of the ECB, High-level conference on Latvia, Riga, 5 June 2012
1/6/2012
Benoît Cœuré:  Restoring confidence in the euro area
Remarks by Benoît Cœuré, Member of the Executive Board of the ECB, Festival dell’Economia, Trento, 1 June 2012
25/5/2012
Peter Praet:  European financial integration in times of crisis
Speech by Peter Praet, Member of the Executive Board of the ECB, at the ICMA Annual General Meeting and Conference 2012, Milan, 25 May 2012
24/5/2012
Jörg Asmussen:  An ECB perspective on key issues of the crisis
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, European Financial Congress Sopot, Poland, 24 May 2012
21/5/2012
Jörg Asmussen:  A European agenda 20…
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, WELT-Währungskonferenz, Berlin, 21 May 2012
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18/5/2012
José Manuel González-Páramo:  Completing the euro project: The day after tomorrow
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, OMFIF Golden Series Lectures on World Money, London, 18 May 2012
16/5/2012
José Manuel González-Páramo:  Closing remarks at the colloquium: Monetary policy in unconventional times
José Manuel González-Páramo, Member of the Executive Board of the ECB, Frankfurt am Main, 16 May 2012
10/5/2012
Peter Praet:  Managing financial crises: 
the role of the ECB
Speech by Peter Praet, Member of the Executive Board of the ECB at the 40th Economics Conference of the Oesterreichische Nationalbank Vienna, 10 May 2012
8/5/2012
Benoît Cœuré:  Unexpected events and the global safety net
Remarks by Benoît Cœuré, Member of the Executive Board of the ECB, IMF-SNB High-Level Conference on the International Monetary System, Zurich, 8 May 2012
8/5/2012
Peter Praet:  Address at the event marking the first signatures to the T2S Framework Agreement
Peter Praet, Member of the Executive Board of the ECB, Frankfurt am Main, 8 May 2012
20/4/2012
Jörg Asmussen:  Key issues about the crisis and the European response
Intervention by Jörg Asmussen, Member of the Executive Board of the ECB at the Center for Strategic and International Studies Washington, 20 April 2012
20/4/2012
Benoît Cœuré:  Risk-sharing in EMU: before, during and after the crisis
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at the inaugural conference: “European crisis: historical parallels and economic lessons” Julis-Rabinowitz Center for Public Policy and Finance Princeton University, 20 April 2012
19/4/2012
Peter Praet:  The role of the central bank and euro area governments in times of crisis
Speech by Peter Praet, Member of the Executive Board of the ECB at the German Federal Ministry of Finance Berlin, 19 April 2012
18/4/2012
José Manuel González-Páramo:  Future challenges for central bank statistics
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the Sixth ECB Statistics Conference, Frankfurt am Main, 18 April 2012
12/4/2012
José Manuel González-Páramo:  Retos de la nueva Europa: La culminación de la Unión Económica y Monetaria
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, Club Siglo XXI Ciclo de conferencias «Tiempos de cambio», Madrid, 12 de abril de 2012
12/4/2012
Jörg Asmussen:  The Irish case from an ECB perspective
Speech by Jörg Asmussen, Member of the Executive Board of the ECB, at the Institute of International and European Affairs, Dublin, 12 April 2012
11/4/2012
Benoît Cœuré:  Financing the economy of the euro area: the ECB’s role
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, Association Française des Tresoriers d’Entreprises (AFTE), Paris, 11 April 2012
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27/3/2012
Jörg Asmussen:  Exchange of Views on the Economic and Social Crisis in Greece
Introductory statement by Jörg Asmussen, Member of the Executive Board of the ECB, at the Committee on Economic and Monetary Affairs of the European Parliament Brussels, 27 March 2012
26/3/2012
Benoît Cœuré:  The monetary policy of the European Central Bank
Speech by Benoît Cœuré, Member of the Executive Board of the ECB at Barclays’ European Conference Tokyo, 26 March 2012
23/3/2012
José Manuel González-Páramo:  Competencia y Sector Financiero
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, en las Jornadas de Economía y Derecho de la Competencia de la Universidad de Málaga, 23 de marzo de 2012
22/3/2012
José Manuel González-Páramo:  Las líneas de defensa frente al riesgo soberano y al 'efecto contagio' en los mercados. ¿Qué papel puede y debe jugar la política monetaria?
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, en el Club Antares, Sevilla, 22 de marzo de 2012
15/3/2012
José Manuel González-Páramo:  “What has Europe learnt from the crisis”?
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, OMFIF Conference: On the cusp: The world economy at a turning point. Strengthening stability at a time of challenge and change. Frankfurt am Main, 15 March 2012
6/3/2012
Benoît Cœuré:  The reform of financial regulation: priorities from an ECB perspective
Dinner speech by Benoît Cœuré, Member of the Executive Board of the ECB, Association for Financial Markets in Europe (AFME), Paris, 6 March 2012
5/3/2012
José Manuel González-Páramo:  De la crisis sub-prime a la crisis soberana: el papel del BCE
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, Encuentro Financiero BANKIA-El PAÍS, Madrid, 5 de marzo de 2012
27/2/2012
Peter Praet:  Sound money, sound finances, a competitive economy – principles of a european culture of stability
Speech by Peter Praet, Member of the Executive Board of the ECB, at the symposium on “Perspectives for a common stability culture in Europe” organised by Konrad-Adenauer-Stiftung, Berlin, 27 February 2012
20/2/2012
Peter Praet:  Monetary policy at crisis times
Lecture by Peter Praet, Member of the Executive Board of the ECB, at the International Center for Monetary and Banking Studies, Geneva, 20 February 2012
19/2/2012
Benoît Cœuré:  Central banks and the challenges of the zero lower bound
Intervention by Benoît Cœuré, Member of the Executive Board of the ECB, at the “Meeting on the Financial Crisis”, hosted by the Initiative on Global Markets, at the University of Chicago Booth School of Business, Miami, 19 February 2012
6/2/2012
Benoît Cœuré:  Global liquidity and risk appetite: a re-interpretation of the recent crises
Speech by Benoît Cœuré, Member of the Executive Board of the ECB, at the BIS- ECB Workshop on Global liquidity and its international repercussions, Frankfurt am Main, 6 February 2012
16/12/2011
Lorenzo Bini Smaghi:  The reform of the international monetary system
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Conference in memory of Tommaso Padoa-Schioppa, Rome, 16 December 2011
9/12/2011
Peter Praet:  The State of the global economy
Speech by Peter Praet, Member of the Executive Board of the ECB, 4th World Policy Conference, Vienna, 9 December 2011
2/12/2011
Jürgen Stark:  Economic situation and fiscal challenges
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the Forecaster Club of New York, New York, 2 December 2011
30/11/2011
Jürgen Stark:  Globalisation and monetary policy: from virtue to vice?
Speech by Jürgen Stark, Member of the Executive Board of the ECB, delivered at the Federal Reserve Bank of Dallas, Dallas, US, 29 November 2011
25/11/2011
José Manuel González-Páramo:  Sovereign contagion in Europe
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Distinguished Speaker Seminar of the European Economics and Financial Centre, London, 25 November 2011
24/11/2011
José Manuel González-Páramo:  The sovereign debt crisis and the future of European integration
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the Oxford University European Affairs Society, 24 November 2011
24/11/2011
Peter Praet:  Housing cycles and financial stability – the role of the policymaker
Speech by Peter Praet, Member of the Executive Board of the ECB, at the EMF Annual Conference 2011, Brussels, 24 November 2011
15/11/2011
Peter Praet:  Fixed income investment of insurance companies and pension funds in a low yield - but volatile - environment
Speech by Peter Praet, Member of the Executive Board of the ECB, at the 2011 European Pension Funds Congress during the 14th Euro Finance Week, Frankfurt am Main, 15 November 2011
10/11/2011
Peter Praet:  The (changing) role of central banks in financial stability policies
Speech by Peter Praet, Member of the Executive Board of the ECB, at the 14th Annual Internal Banking Conference, organised by the Federal Reserve Bank of Chicago and the European Central Bank, Chicago, 10 November 2011
9/11/2011
Jürgen Stark:  Towards a safer financial system
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the Transatlantic Business Conference, organized by the American Chamber of Commerce, Frankfurt am Main, 9 November 2011
8/11/2011
Jürgen Stark:  Macro-prudential supervision and financial integration – the ESRB at 1
Diner speech by Jürgen Stark, Member of the Executive Board of the ECB, Berlin, 8 November 2011
8/11/2011
Jürgen Stark:  Die Stabilität des Euro in der Schuldenkrise
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, 21. internationales Europa Forum Luzern, 8. November 2011
4/11/2011
José Manuel González-Páramo:  The ECB and the sovereign debt crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the XXIV Moneda y Crédito Symposium, Madrid, 4 November 2011
4/11/2011
Jürgen Stark:  Konsequenzen der Finanzkrise für die Finanzmarktintegration im Euroraum
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Kreditpolitische Tagung 2011 “Der Euro, die Märkte, die Banken – wie weit reicht die Solid(ar)ität?”, Frankfurt am Main, 4. November 2011
21/10/2011
José Manuel González-Páramo:  The ECB’s monetary policy during the crisis
José Manuel González-Páramo, Member of the Executive Board of the ECB, Closing speech at the Tenth Economic Policy Conference, Málaga, 21 October 2011
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17/10/2011
Lorenzo Bini Smaghi:  The European debt crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Atlantik-Brücke Meeting of Regional Group Frankfurt/Hesse Frankfurt am Main, 17 October 2011
17/10/2011
Jürgen Stark:  Hearing at the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Jürgen Stark, Member of the Executive Board of the ECB, Brussels, 17 October 2011
13/10/2011
José Manuel González-Páramo:  The conduct of monetary policy: lessons from the crisis and challenges for the coming years
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the SEACEN-CEMLA Conference, Kuala Lumpur, 13 October 2011
12/10/2011
Jürgen Stark:  Economic adjustment in a monetary union
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the Bank of Latvia annual conference “Global Challenges and Local Opportunities: Achievements and Prospects in the Baltic States”, Riga, 12 October 2011
3/10/2011
Lorenzo Bini Smaghi:  The Triffin dilemma revisited
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Conference on the International Monetary System: sustainability and reform proposals, marking the 100th anniversary of Robert Triffin (1911-1993), at the Triffin International Foundation, Brussels, 3 October 2011.
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24/9/2011
Jürgen Stark:  The global financial crisis and the role of monetary policy
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the 13th Annual Emerging Markets Conference 2011 Washington, 24 September 2011
19/9/2011
José Manuel González-Páramo:  Monetary and fiscal policies in times of crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the conference of the Monetary and Fiscal Policies Network (MONFISPOL), Goethe Universität Frankfurt, 19 September 2011
16/9/2011
José Manuel González-Páramo:  Address at the opening ceremony of the Euro Exhibition
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the Bulgarian National Bank Sofia, 16 September 2011
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15/9/2011
Jürgen Stark:  Finanz- und Schuldenkrise: Wo stehen wir?
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Österreichische Bankwissenschaftliche Gesellschaft, 15. September 2011
15/9/2011
Lorenzo Bini Smaghi:  Policy rules and institutions in times of crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at “Forum for EU-US Legal-Economic Affairs” organised by the Mentor Group, Rome, 15 September 2011
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31/8/2011
Peter Praet:  A new voice on a familiar topic – SEPA from the perspective of ECB Executive Board Member Peter Praet
Speech by Peter Praet, Member of the Executive Board of the ECB, at the off-site meeting of the European Payments Council, Brussels, 31 August 2011
11/7/2011
Lorenzo Bini Smaghi:  Where is the economy heading? The challenges ahead (presentation slides)
Presentation by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, The Ruling Companies Association Milan, 11 July 2011
8/7/2011
Lorenzo Bini Smaghi:  European democracies and decision-making in times of crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Hellenic Foundation for European and Foreign Policy, 8th European Seminar 2011, Adjusting to the Crisis: Policy Choices and Politics in Europe, Poros, 8 July 2011
27/6/2011
Jürgen Stark:  Anpassungsmechanismen in der Wirtschafts- und Währungsunion
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, DIE WELT Währungskonferenz „Unsere Währung und die Zukunft in Europe“ Berlin, 27. Juni 2011
27/6/2011
Jürgen Stark:  Press briefing on new monetary and financial statistics
Introductory remarks by Jürgen Stark, Member of the Executive Board of the ECB, for the presentation of four new/enhanced datasets on monetary and financial statistics, Frankfurt, 27 June 2011
24/6/2011
José Manuel González-Páramo:  Speech on the occasion of awarding of PhD Honoris Causa to Mr. González-Parámo by the University of Malaga
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, Málaga, 24 de junio de 2011
20/6/2011
Jürgen Stark:  Staatsschuld und Geldpolitik: Lehren aus der globalen Finanzkrise
Rede von Prof. Dr. Jürgen Stark, Mitglied des Direktoriums der EZB, Münchner Seminare: CES ifo Group Munich & Süddeutsche Zeitung, München, 20. Juni 2011
17/6/2011
Lorenzo Bini Smaghi:  Intervention at Sveriges Riksbank Conference: Monetary Policy in an Era of Fiscal Stress
Intervention in the panel: Challenges for Monetary and Fiscal Policy, Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Stockholm, 17 June 2011
16/6/2011
Peter Praet:  Address on the occasion of the inauguration of the Euro Exhibition
Speech by Peter Praet, Member of the Executive Board of the ECB, at the Cité des sciences et de l’industrie, Paris, 16 June 2011
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16/6/2011
Lorenzo Bini Smaghi:  Social Business and Economic Growth
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Executive Summit on Ethics for the Business World, Vatican City, 16 June 2011
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15/6/2011
Lorenzo Bini Smaghi:  Risk Management in Central Banking
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, International Risk Management Conference 2011, Free University of Amsterdam, 15 June 2011
10/6/2011
Jürgen Stark:  Adjusting monetary policy in a challenging environment
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the “ECB and its Watchers XIII” conference, Frankfurt am Main, 10 June 2011
10/6/2011
José Manuel González-Páramo:  How will historians judge our handling of this crisis?
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, in the occasion of the presentation of the book titled “Un Siglo de Historia del Sistema Financiero Español”, Banco de España Madrid, 10 June 2011
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6/6/2011
Lorenzo Bini Smaghi:  Private sector involvement: From (good) theory to (bad) practice
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Reinventing Bretton Woods Committee Berlin, 6 June 2011
3/6/2011
José Manuel González-Páramo:  The management of the banking sector and the economy: What have we learned about financial markets and regulations?
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, XXVII Reunión Círculo de Economía, Sitges, 3 June 2011
26/5/2011
José Manuel González-Páramo:  The challenges of the European financial sector
José Manuel González-Páramo, Member of the Executive Board of the ECB, Conference at the Spanish National Council of the Urban Land Institute (ULI) Barcelona, 26 May 2011
26/5/2011
Lorenzo Bini Smaghi:  One size fits all?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the 16th Annual Conference of the German-British Forum „The European Central Bank in a global perspective – Central banking and the challenge of rising inflation“, London, 26 May 2011
25/5/2011
Jürgen Stark:  Globalisierung nach der Krise: Weltwirtschaft zwischen Währungsdumping und neuem Protektionismus
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Impulsreferat anlässlich des Wirtschaftstags 2011 „Deutschland: Motor in Europa – Industrieland mit Zukunft“, Berlin, 25. Mai 2011
23/5/2011
Lorenzo Bini Smaghi:  Macro-prudential supervision and monetary policy – linkages and demarcation lines
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the OeNB Annual Economic Conference on “The Future of European Integration: Some Economic Perspectives”, Vienna, 23 May 2011
23/5/2011
Gertrude Tumpel-Gugerell:  SEPA in der Praxis – Sicht der Europäischen Zentralbank
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, auf der Konferenz “Zahlungsverkehr in Deutschland im Jahr 2011“, Frankfurt am Main, 23. Mai 2011
19/5/2011
Gertrude Tumpel-Gugerell:  Financial integration and stability
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Closing remarks for the ECB colloquium “European integration and stability” in honour of Gertrude Tumpel-Gugerell, Frankfurt am Main, 19 May 2011
18/5/2011
José Manuel González-Páramo:  What securitisation for the future? - The collapse and revival of ABS markets
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the ECB-CFS Research Network Workshop on "The structure of the euro area market for banks' debt financing and implications for monetary transmission and financial integration" Frankfurt am Main, 18 May 2011
18/5/2011
Jürgen Stark:  In the aftermath of the global economic crisis: What next?
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the ECONOMIST conference – 15th Roundtable with the Government of Greece, Attica, 18 May 2011
13/5/2011
Jürgen Stark:  Konsolidierung versus Erweiterung? Beitrittskandidaten und Problemfälle in der Eurozone
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Rahmen-Programm zur Verleihung des Internationalen Karlspreis zu Aachen, Stadt Aachen, 13. Mai 2011
13/5/2011
Gertrude Tumpel-Gugerell:  Closing remarks for the conference “The future of retail payments: opportunities and challenges”
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Vienna, 13 May 2011
12/5/2011
José Manuel González-Páramo:  The European Union and the Lessons from the Crisis: The Way Forward
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at RBC Capital Markets’ Central Bank Conference “Impacts and Implications of Integrated Global Markets”, Madrid, 12 May 2011
12/5/2011
Gertrude Tumpel-Gugerell:  Transformation of the banking business and its impact on retail payments: governance, efficiency and integration
Introductory remarks for the panel session by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the conference “The future of retail payments: opportunities and challenges” Vienna, 12 May 2011
11/5/2011
Jürgen Stark:  The future of the international monetary system: Lessons from 1971 for Europe and the world in light of past and present experience
Speech by Jürgen Stark, Member of the Executive Board of the ECB, organised by the Official Monetary and Financial Institutions Forum, London, 11 May 2011
10/5/2011
Lorenzo Bini Smaghi:  Monetary and financial stability in the euro area
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB
10/5/2011
Gertrude Tumpel-Gugerell:  Policy discipline and spillovers in an interconnected global economy
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the SNB-IMF High-Level Conference on The International Monetary System Zurich, 10 May 2011
3/5/2011
Gertrude Tumpel-Gugerell:  Asset price bubbles: how they build up and how to prevent them?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at alumni event of the Faculty of Economics at University of Vienna, Vienna, 3 May 2011
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14/4/2011
José Manuel González-Páramo:  Risk, return, resilience: The future financial system
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at 3rd Annual Risk and Return Russia Conference, Moscow, 14 April 2011
12/4/2011
Jürgen Stark:  The global financial crisis and the role of central banking
Speech by Jürgen Stark, Member of the Executive Board of the ECB, Institute of Regulation & Risk, North Asia, Hong Kong, 12 April 2011
8/4/2011
Gertrude Tumpel-Gugerell:  Ist die europäische Wirtschafts- und Währungsunion eine Solidargemeinschaft? Soll sie es sein?
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Deutsch-Spanisches Forum 8. April 2011, Berlin
1/4/2011
Lorenzo Bini Smaghi:  Basel III and the real economy (slides from the presentation)
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Club Ambrosetti: The outlook for financial markets, for their governance and for finance Villa d’Este, Cernobbio, 1 April 2011
30/3/2011
Lorenzo Bini Smaghi:  Banking supervision and corporate governance in the European architecture
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Closing Seminar “Banking Supervision and Internal Audit as Contributors to Sound Corporate Governance and Financial Stability” Moscow, 30 March 2011
28/3/2011
Lorenzo Bini Smaghi:  Intervento alla presentazione del libro di Fabio Corsico e Paolo Messa: Da Frankenstein a principe azzurro. Le Fondazioni bancarie tra passato e futuro
Discorso di Lorenzo Bini Smaghi, Membro del Comitato esecutivo della BCE, Fondazione Corriere della Sera Milano, 28 marzo 2011
24/3/2011
José Manuel González-Páramo:  The ECB’s Non-standard Measures during the Current Financial Crisis The ECB’s Non-standard Measures during the Current Financial Crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, ECB Workshop “The Macroeconomic Impact of Non-standard Monetary Policy Measures” Frankfurt am Main, 24 March 2011,
21/3/2011
Gertrude Tumpel-Gugerell:  What lies behind the success of the euro?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Investmentforum 2011, Salzburg, 21 March 2011
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18/3/2011
Gertrude Tumpel-Gugerell:  Introductory statement at the press conference on the occasion of the signing of the protocol between the European Central Bank, the National Bank of Serbia and the Delegation of the European Union to the Republic of Serbia
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Belgrade, 18 March 2011
15/3/2011
Gertrude Tumpel-Gugerell:  Der einheitliche Euro-Zahlungsverkehrsraum (SEPA): Wo stehen wir und was bringt er uns?
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Deutsche Bundesbank Stuttgart, 15. März 2011
11/3/2011
Lorenzo Bini Smaghi:  Whither Europe after the crisis?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the inauguration of the Academic Year 2011, IMT, Lucca, 11 March 2011
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10/3/2011
José Manuel González-Páramo:  Speech on the occasion of the inauguration of the Euro Exhibition at Banca Naţională a României
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Bucharest, 10 March 2011
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4/3/2011
José Manuel González-Páramo:  Rethinking risk management: from lessons learned to taking action
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Risk and Return South Africa conference, Cape Town, 4 March 2011
4/3/2011
Lorenzo Bini Smaghi:  The challenges of surveillance and coordination
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, International symposium of the Banque de France, Regulation in the Face of Global Imbalances Paris, 4 March 2011
22/2/2011
Lorenzo Bini Smaghi:  Eurozone, European crisis & policy responses
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Goldman Sachs Global Macro Conference - Asia 2011, Hong Kong, 22 February 2011
21/2/2011
Jürgen Stark:  Central banking after the financial crisis
IMFS Distinguished Lecture, by Jürgen Stark, Member of the Executive Board of the ECB, House of Finance, Goethe Universität, Frankfurt am Main, 21 February 2011
14/2/2011
Lorenzo Bini Smaghi:  Addressing imbalances in the euro area
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Halle Institute for Economic Research, Halle an der Saale, 14 February 2011
10/2/2011
Lorenzo Bini Smaghi:  Monetary Union, Regulation and Supervision
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, introductory keynote address at the 9th Annual European Financial Services Conference “Taking Stock of Reform: Fragmentation or Convergence?”, Brussels, 10 February 2011,
9/2/2011
Lorenzo Bini Smaghi:  Sovereign risk and the euro (slides from the presentation)
Presentation by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, London Business School, 9 February 2011
28/1/2011
Lorenzo Bini Smaghi:  Tommaso Padoa-Schioppa: Economist, policy-maker, citizen in search of European unity
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, European University Institute, Fiesole, 28 January 2011,
27/1/2011
Gertrude Tumpel-Gugerell:  Wirtschafts- und finanzpolitische Herausforderungen für den Euro-Raum
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Staatskanzlei Rheinland-Pfalz, Mainz, 27. Januar 2011
27/1/2011
José Manuel González-Páramo:  The banking sector towards the “new normal”: some considerations
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, ‘Jornada de la Banca’ organised by PwC and IE Business School, Madrid, 27 January 2011
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27/1/2011
Lorenzo Bini Smaghi:  The challenges facing monetary policy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Prometeia, Bologna, 27 January 2011
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26/1/2011
Jürgen Stark:  Die globale Finanzkrise: Herausforderungen für die Europäische Zentralbank jetzt und in der Zukunft
Rede von Prof. Dr. Jürgen Stark, Mitglied des Direktoriums der EZB, anlässlich der Erich Schneider Gedächtnisvorlesung, Christian-Albrechts-Universität zu Kiel, 26. Januar 2011
20/1/2011
Gertrude Tumpel-Gugerell:  Wirtschaftliche Aussichten 2011 für den Euroraum
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Vereinigung Christlicher Unternehmer, Melk, 20. Januar 2011
19/1/2011
Lorenzo Bini Smaghi:  Lessons for monetary policy from the recent crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the roundtable “L’euro e la crisi internazionale” organised by University of Chicago Alumni Club of Italy and Bocconi Alumni Association, Milan, 19 January 2011
10/1/2011
Lorenzo Bini Smaghi:  The International Monetary System: Towards a New Era
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Asia-Europe Economic Forum, Paris, 10 January 2011
25/11/2010
Gertrude Tumpel-Gugerell:  SEPA: a busy year is coming to its end and another exciting year lies ahead
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at Next Generation Cards & Payments Conference, Brussels, 25 November 2010
23/11/2010
Gertrude Tumpel-Gugerell:  The euro area's economic outlook
Intervention by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, during a panel discussion on Europe’s financial forecast at the Bloomberg Businessweek European Leadership Forum, London, 23 November 2010
19/11/2010
José Manuel González-Páramo:  Basilea III y el nuevo marco macroprudencial
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, Apuntes de actualidad, Conferencias Intereconomía, Madrid, 19 de noviembre de 2010
19/11/2010
Jürgen Stark:  In search of a robust monetary policy framework
Keynote speech by Jürgen Stark, Member of the Executive Board, at the 6th ECB Central Banking Conference “Approaches to monetary policy revisited – lessons from the crisis”, Frankfurt am Main, 19 November 2010 of the ECB
16/11/2010
Jürgen Stark:  The new normal
Intervention by Jürgen Stark, Member of the Executive Board of the ECB, at the 13th Euro Finance Week, Frankfurt, 16 November 2010
15/11/2010
Gertrude Tumpel-Gugerell:  Priorities for Integration
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the 13th Frankfurt Euro Finance Week, Frankfurt am Main, 15 November 2010
11/11/2010
Jürgen Stark:  Bedroht die Schuldenkrise den Euro?
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Vorständetagung Essen, 11. November 2010
1/11/2010
Lorenzo Bini Smaghi:  The Challenges Facing the Euro Area
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the OMFIF Meeting Abu Dhabi, United Arab Emirates 1 November 2010
29/10/2010
Gertrude Tumpel-Gugerell:  Zukunft Euro
Diskussionsbeitrag von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB anlässlich des Symposiums „Die Zukunft hat schon begonnen“im Übersee-Club Hamburg, 29 Oktober 2010
27/10/2010
Jürgen Stark:  Wirtschaftspolitische Herausforderungen im Eurogebiet
Vortrag von Jürgen Stark, Mitglied des Direktoriums der EZB zur KPMG Konzernsteuerkonferenz Mittwoch, 27. Oktober 2010, Wiesbaden
25/10/2010
José Manuel González-Páramo:  Household Finance and Consumption - Opening remarks
By José Manuel González-Páramo, Member of the Executive Board of the ECB, at the Conference organised by the ECB and the Banque Centrale du Luxembourg, Luxembourg, 25 October 2010
25/10/2010
Gertrude Tumpel-Gugerell:  Retail sales from a euro area perspective
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the World Retail Congress, Berlin, 25 October 2010
22/10/2010
Lorenzo Bini Smaghi:  Demographic trends, technological progress and economic growth in advanced economies
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, 66( Congresso Nazionale di Pediatria (66th National Paediatrics Congress), Rome, 22 October 2010
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20/10/2010
Jürgen Stark:  Contributions of central bank statistics in a global context
Speech by Jürgen Stark, Member of the Executive Board of the ECB, delivered at World Statistics Day, Frankfurt am Main, 20 October 2010
20/10/2010
Jürgen Stark:  Central bank statistics: What did the financial crisis change?
Speech by Jürgen Stark, Member of the Executive Board of the ECB, delivered at the fifth ECB Conference on Statistics, Frankfurt am Main, 20 October 2010
18/10/2010
Gertrude Tumpel-Gugerell:  The Single Euro Payments Area - where do we stand?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the European Payments Council offsite meeting Brussels, 14 October 2010
15/10/2010
Jürgen Stark:  Geld- und Fiskalpolitik während und nach der Krise
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB, Stuttgarter Steuerkongress, Stuttgart, 15. Oktober 2010
14/10/2010
Lorenzo Bini Smaghi:  Western Democracy and its Discontents: Economic and Political Challenges
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the Aspen Transatlantic Dialogue: “Western Democracies under Pressure”, Rome, 14 October 2010
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8/10/2010
Lorenzo Bini Smaghi:  From Convoy to Parting Ways? Post Crisis Divergence Between European and US Macroeconomic Policies
Comments on the paper by Jean Pisani-Ferry and Adam Posen, by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, at the “The Transatlantic Relationships in an Era of Growing Economic Multipolarity”, Conference hosted by the Peterson Institute for International Economics and Bruegel, Washington, DC, 8 October 2010
4/10/2010
Gertrude Tumpel-Gugerell:  Auswirkungen der Finanzkrise auf die Finanzwirtschaft: Lehren und konsequenzen
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB DIIR-Forum, Kreditinstitute 2010 Düsseldorf, 4. Oktober 2010
29/9/2010
José Manuel González-Páramo:  The European experience on macro-prudential regulation
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the occasion of the I Jornada Financiera Banco Central de Bolivia La Paz, Bolivia, 29 September 2010
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29/9/2010
Lorenzo Bini Smaghi:  Basel III and monetary policy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the International Banking Conference – “Matching Stability and Performance: The Impact of New Regulations on Financial Intermediary Management”, Milan, 29 September 2010
28/9/2010
Gertrude Tumpel-Gugerell:  "Priorities of the Belgian Presidency of the EU for the financial services area"
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the EUROFI Conference, Brussels, 28 September 2010
27/9/2010
Gertrude Tumpel-Gugerell:  The interplay of banking, financial intermediation and regulation
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the 13th Conference of the ECB-CFS Research Network on “Macro-prudential Regulation as an Approach to Contain Systemic Risk: Economic Foundations, Diagnostic Tools and Policy Instruments”, Frankfurt am Main, 27 September 2010
15/9/2010
Lorenzo Bini Smaghi:  ECON Committee Hearing on “Improving the economic governance and stability framework of the Union, in particular in the euro area”
Intervention by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Brussels, 15 September 2010
10/9/2010
Lorenzo Bini Smaghi:  Joint ECB-JIE conference on “What future for financial globalisation”: Sovereign debt and the global economy
Dinner speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Frankfurt am Main, 9 September 2010
7/9/2010
Lorenzo Bini Smaghi:  What has the financial crisis taught us? The global dimension and international policy cooperation
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, 21st Century Forum 2010, Beijing, 6-8 September 2010
3/9/2010
José Manuel González-Páramo:  Lessons from the crisis for monetary policy and financial stability
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Annual Money, Macro and Finance conference, Limassol, Cyprus, 3 September 2010
23/7/2010
Gertrude Tumpel-Gugerell:  Policy challenges facing the euro area
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Distinguished Speaker Seminar at the European Economic and Financial Centre, London, 23 July 2010
9/7/2010
Lorenzo Bini Smaghi:  Imbalances and sustainability in the euro area (slides from the presentation)
Presentation by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, The ECB and its Watchers, Frankfurt am Main, 9 July 2010
9/7/2010
Jürgen Stark:  Enhancing the ECB’s monetary analysis: what have we learnt?
Speech by Jürgen Stark, Member of the Executive Board of the ECB The ECB and its Watchers, Frankfurt am Main, 9 July 2010
3/7/2010
Gertrude Tumpel-Gugerell:  The ECB’s actions during the recent crisis and the policy elements needed for a sound recovery
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the Conference on “How can the EU and China Contribute to a Sound and Sustainable Global Economic Recovery?” at the Shanghai Expo Shanghai, 3 July 2010
2/7/2010
Jürgen Stark:  Zur Zukunft des Euro
Jürgen Stark, Mitglied des Direktoriums der EZB, Eingangsreferat zur Diskussion „Die aktuelle Problematik in der Euro-Zone“, veranstaltet von: Österreichische Gesellschaft für Außenpolitik und die Vereinten Nationen, Wien, Freitag, den 2 Juli 2010
28/6/2010
Gertrude Tumpel-Gugerell:  Towards a safer financial system
Intervention by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the US Financial Services Roundtable Brussels, 28 June 2010
21/6/2010
José Manuel González-Páramo:  Reform of the architecture of the financial system
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Bilbao, 21 June 2010
18/6/2010
José Manuel González-Páramo:  The European Central Bank and the policy of enhanced credit support
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Conference organised by Cámara de Comercio de Málaga and University of Málaga, Málaga, 18 June 2010
18/6/2010
Lorenzo Bini Smaghi:  The financial and fiscal crisis: a euro area perspective
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Le Cercle, Brussels, 18 June 2010
16/6/2010
Lorenzo Bini Smaghi:  The role of regulators when markets fail
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Conference on the Squam Lake Report “Fixing the Financial System”, New York City, 16 June 2010
16/6/2010
José Manuel González-Páramo:  Re-starting securitisation
Keynote speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at Association for Financial Markets in Europe/ESF and Information Management Network Global ABS 2010 Conference, London, 16 June 2010
14/6/2010
Lorenzo Bini Smaghi:  Monetary policy transmission in a changing financial system: lessons from the recent past, thoughts about the future
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Barclays Global Inflation Conference New York City, 14 June 2010
11/6/2010
Lorenzo Bini Smaghi:  Europe, the United States and the new challenges to the global economy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, The Council for the United States and Italy, Venice, 11 June 2010
11/6/2010
Gertrude Tumpel-Gugerell:  Address on the occasion of the opening ceremony of the Euro Exhibition at Narodowy Bank Polski
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Warsaw, 11 June 2010
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11/6/2010
Gertrude Tumpel-Gugerell:  Financial Integration and Stability: 
Efficiency Gains vs. Pitfalls
Keynote address by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the conference “Heterogeneous Nations and Globalized Financial Markets: New Challenges for Central Banks” organised by the National Bank of Poland Warsaw, 11 June 2010
28/5/2010
Lorenzo Bini Smaghi:  Challenges for the Euro Area, and the World Economy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at “The Group of Thirty”, 63rd Plenary Session, Session I: The Crisis of the Eurosystem, Rabat, 28 May 2010
26/5/2010
José Manuel González-Páramo:  The challenges of credit risk management: lessons learned from the crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Risk Europe 2010, Frankfurt am Main, 26 May 2010
13/5/2010
Lorenzo Bini Smaghi:  Lessons of the crisis: Ethics, Markets, Democracy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Unione Cristiana Imprenditori Dirigenti (UCID), Milan, 13 May 2010
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5/5/2010
Gertrude Tumpel-Gugerell:  SEPA for cards: more than a symbol of SEPA’s success
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the Monnet Symposium organised by The Monnet Project, Madrid, 5 May 2010
28/4/2010
Gertrude Tumpel-Gugerell:  Time ripens all things, and now the time is ripe to reap the benefits from E-invoicing
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the E-invoicing conference in Madrid, 28 April 2010
28/4/2010
Jürgen Stark:  Keynote address at the EUROMONEY conference
Speech by Jürgen Stark, Member of the Executive Board of the ECB, Berlin, 28 April 2010
27/4/2010
Gertrude Tumpel-Gugerell:  Elements for intervention on accounting issues
Speaking notes by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the colloquium “La juste valeur dans tous ses Etats” organised by Académie des Sciences et Techniques Comptables et Financières, Paris, 27 April 2010
19/4/2010
Gertrude Tumpel-Gugerell:  Address on the occasion of the opening ceremony of the Euro Exhibition at the Banque centrale du Luxembourg
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Luxembourg, 19 April 2010
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15/4/2010
Jürgen Stark:  Taking stock: where do we stand in the crisis?
Speech by Jürgen Stark, Member of the Executive Board of the ECB at BMW Stiftung Herbert Quandt, Washington D.C., 15 April 2010
15/4/2010
Lorenzo Bini Smaghi:  Has the financial sector grown too big?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Nomura Seminar, The paradigm shift after the financial crisis, Kyoto, 15 April 2010
9/4/2010
Lorenzo Bini Smaghi:  Could monetary policy have helped prevent the financial crisis?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Workshop on “Monetary policy: Recent experience and future directions” Bank of Canada, Toronto 9 April 2010
25/3/2010
José Manuel González-Páramo:  Estrategias económicas de salida de la crisis
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE, Fundación Ramón Areces, Madrid, 25 de marzo de 2010
16/3/2010
Jürgen Stark:  Economic recovery and exit strategies
Speech by Jürgen Stark, Member of the Executive Board of the ECB Delivered at debate on “The post-crisis strategy for growth and jobs” and “Modernisation of the global financial architecture” between the Committee on Economic and Monetary Affairs of the European Parliament and national parliaments Brussels, 16 March 2010
15/3/2010
Gertrude Tumpel-Gugerell:  Introductory remarks to the press conference on the announcement of the EU-funded cooperation programme between the ECB and the Central Bank of Bosnia and Herzegovina.
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Sarajevo, 15 March 2010
8/3/2010
Jürgen Stark:  Is the global economy headed for a lost decade? A European perspective
Speech by Jürgen Stark, Member of the Executive Board of the ECB, delivered at NABE Economic Policy Conference “The New Normal? Policy Choices after the Great Recession” in Arlington, US, 8 March 2010
26/2/2010
José Manuel González-Páramo:  Monetary and fiscal policy interactions during the financial crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Madrid, 26 February 2010
25/2/2010
Jürgen Stark:  Towards a stability-oriented policy framework
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the conference “Reconstructing the world economy – Redesigning the macro-framework” organised by the Korea Development Institute and International Monetary Fund, Seoul, 25 February 2010
24/2/2010
Lorenzo Bini Smaghi:  Slaves of defunct economists
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the Master Programme in International Business and Economics, Università di Pavia, 24 February 2010
19/2/2010
José Manuel González-Páramo:  Globalisation, international financial integration and the financial crisis: The future of European and international financial market regulation and supervision
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Institute of International and European Affairs, Dublin 19 February 2010
10/2/2010
Lorenzo Bini Smaghi:  Reserve accumulation: the other side of the coin
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, 5th High-level EMEAP-Eurosystem Seminar, Sydney, 10 February 2010
29/1/2010
Lorenzo Bini Smaghi:  From boom to bust: towards a new equilibrium in bank credit
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Ernst & Young Business School seminar, Milan, 29 January 2010
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28/1/2010
Gertrude Tumpel-Gugerell:  Die Zukunft der Geld- und Finanzpolitik sowie der Systemaufsicht
Vortrag von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Symposium „Europa-Strategien für die Zukunft aus der Sicht von Akteur/innen“ Innsbruck, 28. Januar 2010
26/1/2010
Lorenzo Bini Smaghi:  Reflections on the exit strategy
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Sveriges Riksbank, Stockholm, 21 January 2010
26/1/2010
Jürgen Stark:  Wirtschaftliche Perspektiven für den Euroraum im Jahr 2010
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB 20. IIR Jahresauftaktkongress der Immobilienwirtschaft CIMMIT 2010 Frankfurt am Main, 26. Januar 2010
22/1/2010
José Manuel González-Páramo:  The regulatory and supervisory reform in Europe
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, Presentation of the Report “Observatorio sobre la reforma de los mercados financieros 2009, realizado por la Fundación de Estudios Financieros”, Madrid, 22 January 2010
20/1/2010
Jürgen Stark:  Wirtschaftliche Perspektiven nach der Krise: historische Erfahrungen, Lehren für jetzt
Vortrag von Jürgen Stark, Mitglied des Direktoriums der EZB am Leipziger Seminar Ökonomie und Praxis Leipzig, 20. Januar 2010
18/1/2010
Lorenzo Bini Smaghi:  The euro area macroeconomic situation: Where do we stand, where are we going?
Keynote address by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, At the New Year’s Reception 2010 organised by Industrie- und Handelskammer, Frankfurt am Main, 18 January 2010
11/12/2009
Gertrude Tumpel-Gugerell:  The Way Forward with Monetary, Fiscal and Macroprudential Policies
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the Conference “Europe after the Crisis: Resuming the Long-Term Perspective” organised by the Confederation of Swedish Enterprise and the Centre for Global Studies Stockholm, 11 December 2009
11/12/2009
José Manuel González-Páramo:  New investment fund statistics for the euro area
Introductory remarks by José Manuel González-Páramo, Member of the Executive Board of the ECB, for the first statistical release, Frankfurt, 11 December 2009
2/12/2009
Gertrude Tumpel-Gugerell:  Thinking small first – how does it apply to the financing conditions and payments of small and medium-sized enterprises?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB the Annual General Assembly of UEAPME, the European Association of crafts and small business, Brussels, 2 December 2009
1/12/2009
José Manuel González-Páramo:  Central bank policies in and out of the crisis: From non-conventional to new conventional
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the “Challenges to monetary policy implementation beyond the financial market turbulence Workshop” Frankfurt am Main, 1 December 2009
23/11/2009
Gertrude Tumpel-Gugerell:  The Progress of Migration to SEPA
Keynote address by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the British Bankers’ Association, 7th Annual Payments Conference, London, 23 November 2009
20/11/2009
Lorenzo Bini Smaghi:  Exit strategies: the international dimension
Intervention by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, Euro50 Group Meeting Is there still a paradigm for monetary policy today? Paris, 20 November 2009
19/11/2009
José Manuel González-Páramo:  Address at the opening ceremony for the Euro Exhibition at the Museum für Kommunikation Berlin
José Manuel González-Páramo, Member of the Executive Board of the ECB, Berlin, 19 November 2009
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19/11/2009
Lorenzo Bini Smaghi:  Monetary policy in challenging times
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB London, 19 November 2009
17/11/2009
Jürgen Stark:  Financial stability – the role of central banks. A new task? A new strategy? New tools?
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the Frankfurt 12th Euro Finance Week, Session on “Restructuring the Global Financial Architecture – The Road Ahead”, Frankfurt am Main, Tuesday, 17 November 2009
16/11/2009
Gertrude Tumpel-Gugerell:  A case for rapid euro adoption?
Introduction for panel discussion, by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, OeNB Conference on European Economic Integration, on ‘The Euro’s Contribution to Economic Stability in CESEE’, Vienna, 16 November 2009
12/11/2009
Gertrude Tumpel-Gugerell:  The road less travelled: exploring the nexus of macro-prudential and monetary policy
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the conference “Learning from the financial crisis: financial stability, macroeconomic policy and international institutions” Rome, 12 November 2009
10/11/2009
José Manuel González-Páramo:  The response of the Eurosystem to the financial crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Keynote Speech at the European Parliament’s Special Committee on the Financial, Economic and Social Crisis (CRIS) Brussels, 10 November 2009
9/11/2009
Jürgen Stark:  Monetary Policy before, during and after the financial crisis
Speech by Jürgen Stark, Member of the Executive Board of the ECB, University Tübingen, Tübingen, 9 November 2009
6/11/2009
José Manuel González-Páramo:  Non-standard monetary policy: Five questions about the exit
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Seminar at the European Economics and Financial Centre, London, 6 November 2009
18/10/2009
Lorenzo Bini Smaghi:  Monetary policy, credit flows and small and medium-sized enterprises
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB San Casciano Val di Pesa, 18 October 2009
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16/10/2009
Lorenzo Bini Smaghi:  The financial crisis: challenges and responses
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Associazione Pianificatori Bancari Florence, 16 October 2009
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16/10/2009
Gertrude Tumpel-Gugerell:  The European response to the financial crisis
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Bank of New York Mellon Headquarter New York, 16 October 2009
16/10/2009
Lorenzo Bini Smaghi:  A failure of capitalism?
Distinguish lecture by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the inauguration academic year 2009/2010 “Centro di Ricerca sul Cabiamento Politico”, Università di Siena, Siena, 16 October 2009
14/10/2009
Lorenzo Bini Smaghi:  Monetary policy and asset prices
Opening address by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Freiburg, 14 October 2009
13/10/2009
Gertrude Tumpel-Gugerell:  Payments are becoming European
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the EPC SEPA Direct Debit launch event, Brussels, 13 October 2009
5/10/2009
Gertrude Tumpel-Gugerell:  Recent advances in modelling systemic risk using network analysis
Introductory remarks by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB ECB workshop 5 October 2009
5/10/2009
Gertrude Tumpel-Gugerell:  Wege aus der Krise
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Bad Ischler Dialog „Wege aus der Krise“ Bad Ischl, 5. Oktober 2009
25/9/2009
Lorenzo Bini Smaghi:  Macro-prudential supervision
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB The CEPR/ESI 13th Annual Conference on ‘Financial Supervision in an Uncertain World’ European Banking Center at Venice International University Venice, 25-26 September 2009
24/9/2009
Jürgen Stark:  Short address at the opening ceremony for the 
“Language of Money” exhibition
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the Museum für Kommunikation Berlin on 24 September 2009
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21/9/2009
Gertrude Tumpel-Gugerell:  Business models in banking: Is there a best practice?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB CAREFIN Conference on “Business Models in Banking: Is There a Best Practice” at Bocconi University Milan, 21 September 2009
16/9/2009
José Manuel González-Páramo:  National Accounts for monetary policy making: Reflections on the use of the Euro Area Accounts in the light of the financial crisis
José Manuel González-Páramo, Member of the Executive Board of the ECB Contribution to the Eurostat conference national account 2009 “Reading the present to prepare the future” Session 2: Awakening from the financial and economic crisis Brussels, 16 September 2009
15/9/2009
Jürgen Stark:  Monetary and fiscal policy: criteria and timing for the phasing out of crisis measures
Speech by Jürgen Stark, Member of the Executive Board of the ECB 80th Kieler Konjunkturgespräch, Berlin, 15 September 2009
11/9/2009
Lorenzo Bini Smaghi:  An ocean apart? Comparing transatlantic responses to the financial crisis
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Panel session Taking stock: Global implications of transatlantic differences Conference organised by Banca d’Italia, Bruegel and the Peterson Institute for International Economics Rome, 10-11 September 2009
9/9/2009
José Manuel González-Páramo:  Some reflections on the future of the market for credit derivatives
Keynote address by José Manuel González-Páramo, Member of the Executive Board of the ECB at the 30th International Bürgenstock Meeting, organised by the Swiss Futures and Options Association (SFOA). Interlaken, 9 September 2009
9/9/2009
Gertrude Tumpel-Gugerell:  A single market for cards: the missing piece in the SEPA puzzle
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB EFMA Conference on Cards & Payments Paris, 9 September 2009
4/9/2009
José Manuel González-Páramo:  Fiscal policy and the financial crisis: the need for an effective exit strategy
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the CFS conference The ECB and its Watchers XI Frankfurt am Main, 4 September 2009
4/9/2009
Jürgen Stark:  The ECB's monetary policy: preserving price stability in times of financial distress
Speech by Jürgen Stark, Member of the Executive Board of the ECB, at the conference “The ECB and Its Watchers XI”, Frankfurt am Main, 4 September 2009
3/9/2009
Jürgen Stark:  Economic and financial situation: where do we stand? (Speaking notes)
Speech by Jürgen Stark, Member of the Executive Board of the ECB 2. Zeit Konferenz – Neue Architektur der Finanzwirtschaft, Frankfurt am Main, 3 September 2009
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16/7/2009
Gertrude Tumpel-Gugerell:  Opening statement at the press briefing for the signing of T2S Memorandum of Understanding
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Frankfurt, 16 July 2009
8/7/2009
Gertrude Tumpel-Gugerell:  Globalisierung der Post-Trade Infrastrukturen
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Podiumsgespräch anlässlich der Tagung Payment operations in Germany amid European and international developments, Frankfurt am Main, 8. Juli 2009
6/7/2009
Gertrude Tumpel-Gugerell:  Implementing SEPA: our expedition to 
a fully integrated euro retail payment market
Keynote speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the IEA & Marketforce’s 2nd Annual Conference “The Future of Cards and Payments” London, 6 July 2009
25/6/2009
Jürgen Stark:  EMU – Weathering the perfect storm
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the German-British Chamber of Industry & Commerce London, 25 June 2009
24/6/2009
Lorenzo Bini Smaghi:  Presentation of the book entitled “L’acqua e la spugna” by Franco Bruni
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Center for American Studies Rome, 24 June 2009
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24/6/2009
Lorenzo Bini Smaghi:  Inflation and deflation risks: How to recognise them? How to avoid them?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at XXI Villa Mondragone International Economic Seminar “Global Crisis and Long Term Growth: A New Capitalism Ahead?” Tor Vergata Economic Foundation and CEIS – Centre for Economic and International Studies University of Rome, Rome, 24 June 2009
23/6/2009
Lorenzo Bini Smaghi:  The world after the crisis: Designing the future. A monetary order for the XXI century
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Aspen Institute Italia World Economy Conference Villa Madama, Rome, 23 June 2009
19/6/2009
José Manuel González-Páramo:  Beyond the financial crisis: Some issues on the future of central banking
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the Inaugural Conference of “Cátedra Fundación Ramón Areces de Distribución Comercial” at University of Oviedo Oviedo, 19 June 2009
19/6/2009
Lorenzo Bini Smaghi:  Going Forward: Regulation and Supervision after the Financial Turmoil
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the 4th International Conference of Financial Regulation and Supervision “After the Big Bang: Reshaping Central Banking, Regulation and Supervision” Bocconi University, Milano, 19 June 2009
15/6/2009
Gertrude Tumpel-Gugerell:  Monetary policy challenges in light of the current financial market developments
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Alpbach Talks Vienna, 15 June 2009
15/6/2009
Gertrude Tumpel-Gugerell:  Beyond the turmoil: rules, supervision and infrastructures
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Contribution to the opening panel at the SPIN 2009 CONFERENCE Rome, 15 June 2009
10/6/2009
José Manuel González-Páramo:  Address for the 2008 Bernácer Prize Award Ceremony in honour of Markus Brunnermeier
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Madrid, 10 June 2009
8/6/2009
Jürgen Stark:  The economic crisis and the response of fiscal and monetary policy
Speech by Jürgen Stark, Member of the Executive Board of the ECB Delivered at the Austrian Industrial Organisation Linz, Austria, 8 June 2009
6/6/2009
Gertrude Tumpel-Gugerell:  The future of reserve currencies
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Saint Petersburg International Economic Forum, Saint Petersburg, 6 June 2009
6/6/2009
Gertrude Tumpel-Gugerell:  The post-crisis financial architecture
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Saint Petersburg International Economic Forum Saint Petersburg, 6 June 2009
5/6/2009
Jürgen Stark:  Introduction for Session III “Economies of Central and Eastern Europe and the euro” during the National Bank of Poland Conference
by Jürgen Stark, Member of the Executive Board of the ECB Warsaw, 5 June 2009
4/6/2009
José Manuel González-Páramo:  Managing risk: The role of the central bank in a financial crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at Risk Europe 2009 Frankfurt am Main, 4 June 2009
27/5/2009
Lorenzo Bini Smaghi:  Towards the G8 – strategies for emerging from the crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Università LUISS Guido Carli 27 May 2009
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25/5/2009
José Manuel González-Páramo:  Las finanzas en la encrucijada: Enseñanzas de la crisis
Discurso pronunciado por José Manuel González-Páramo, Miembro del Comité Ejecutivo del Banco Central Europeo Club Siglo XXI - Ciclo de conferencias «La Encrucijada Europea» Madrid, 25 de mayo de 2009
19/5/2009
Gertrude Tumpel-Gugerell:  The new financial architecture and the role of Europe
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Panel discussion organised by the German Office of the European Commission Berlin, 19 May 2009
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6/5/2009
Gertrude Tumpel-Gugerell:  Ten years of the euro: Successes and challenges in light of the current financial market developments
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the Hochschule Karlsruhe Karlsruhe, 6 May 2009
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29/4/2009
Jürgen Stark:  Krisenbewältigung: Markt versus Staat
Jürgen Stark, Member of the Executive Board and the Governing Council of the European Central Bank, Speech delivered at Franz-Böhm-Kolleg, Siegen, 29 April 2009
28/4/2009
Lorenzo Bini Smaghi:  Conventional and unconventional monetary policy
Lorenzo Bini Smaghi, Member of the Executive Board of the European Central Bank, Keynote lecture at the International Center for Monetary and Banking Studies (ICMB), Geneva, 28 April 2009
6/4/2009
Lorenzo Bini Smaghi:  The Euro Area's Exchange Rate Policy and the Experience with International Monetary Coordination during the Crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at a conference entitled “Towards a European Foreign Economic Policy” organised by the European Commission, Brussels, 6 April 2009
3/4/2009
Lorenzo Bini Smaghi:  On the occasion of the inauguration of the Euro Exhibition in Rome
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Rome, 3 April 2009
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30/3/2009
Lorenzo Bini Smaghi:  Developments and Prospects for the European Economy in 2009
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Conference Altagamma: Scenari 2009 Milan , 30 March 2009
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16/3/2009
Gertrude Tumpel-Gugerell:  The Quest for the Holy Grail? – European Financial Integration: Achievements and Hurdles
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Workshop on “Securing the Future Critical Financial ICT-Infrastructure (CFI)” organised by Parsifal Frankfurt, 16 March 2009
9/3/2009
Jürgen Stark:  Economic prospects and the role of monetary policy in the current situation
Speech by Jürgen Stark, Member of the Executive Board of the ECB 5. Deutsch-Luxemburgische Wirtschaftskonferenz Luxembourg, 9 March 2009
6/3/2009
Lorenzo Bini Smaghi:  Three questions on monetary policy easing
Lecture by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the University of Ancona Ancona, 6 March 2009
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18/2/2009
Lorenzo Bini Smaghi:  Looking beyond the euro's first decade
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB The euro’s second decade: status quo and perspectives British Embassy, Berlin, 18 February 2009
14/2/2009
Jürgen Stark:  Eine Bilanz von 10 Jahren Euro und der Geldpolitik der EZB
Jürgen Stark, Mitglied des Direktoriums der EZB Vortrag an der Akademie für politische Bildung Tutzing Tutzing, 14. Februar 2009
12/2/2009
José Manuel González-Páramo:  La crisis financiera: Lecciones y retos
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE «Cercle Financer» de la Societat Econòmica d'Amics Pais - la Caixa Barcelona, 12 de febrero de 2009
12/2/2009
Lorenzo Bini Smaghi:  Regulation and supervisory architecture: Is the EU on the right path?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB 2009 ECON meeting with national parliaments Financial crisis: Where does Europe stand? Brussels, 12 February 2009
6/2/2009
José Manuel González-Páramo:  Financial market failures and public policies: A central banker’s perspective on the global financial crisis
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Closing remarks at XVI Meeting of Public Economics Granada, 6 February 2009
2/2/2009
José Manuel González-Páramo:  On the occasion of the inauguration of the Euro Exhibition in Barcelona
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Barcelona, 2 February 2009
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22/1/2009
Gertrude Tumpel-Gugerell:  The financial crisis – looking back and the way forward
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the conference “Rien ne va plus”? Ways to rebuild the European Social Market Economy” organised by European Economic and Social Committee and European Trade Union Confederation Brussels, 22 January 2009
16/1/2009
José Manuel González-Páramo:  Liquidity, funding and solvency: Policy responses and lessons
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Universidad de Alcalá de Henares Madrid, 16 January 2009
10/12/2008
Jürgen Stark:  Issues paper for the conference "The financial crisis and its consequences for the world economy"
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the conference organised by Aktionsgemeinschaft Soziale Marktwirtschaft e.V. and Eberhard-Karls-Universität Tübingen Tübingen 10 December 2008
9/12/2008
Lorenzo Bini Smaghi:  The Financial Crisis and Global Imbalances: Two Sides of the Same Coin
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Asia Europe Economic Forum conference “The Global Financial Crisis: Policy choices in Asia and Europe” Beijing, 9 December 2008
8/12/2008
Gertrude Tumpel-Gugerell:  Challenges for the Euro at ten
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the conference ‘The Euro at ten: Governing the Eurozone in a globalised world economy’, Berlin, 8 December 2008
1/12/2008
Lorenzo Bini Smaghi:  Restarting a Market: The Case of the Interbank Market
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, ECB Conference on Global Financial Linkages, Transmission of Shocks and Asset Prices Frankfurt, 1 December 2008
25/11/2008
Lorenzo Bini Smaghi:  Restoring confidence
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Panel: Society, State, Market: a European Answer International Forum Economia e Società Aperta “Uscire della crisi” organised by Bocconi University and Corriere della Sera in co-operation with University Carlos III de Madrid Madrid, 25 November 2008
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25/11/2008
Lorenzo Bini Smaghi:  Careful with (the "d") words!
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB The European Colloquia Series Venice, 25 November 2008
21/11/2008
José Manuel González-Páramo:  The financial market crisis, uncertainty and policy responses
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB IE Business School Annual Alumni Conference Madrid, 21 November 2008
18/11/2008
Jürgen Stark:  Monetary, fiscal and financial stability in Europe
Speech by Jürgen Stark, Member of the Executive Board of the ECB 11th Euro Finance Week in Frankfurt 18 November 2008
18/11/2008
Gertrude Tumpel-Gugerell:  European Pension Funds Congress
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Euro Finance Week Frankfurt am Main, 18 November 2008
17/11/2008
Gertrude Tumpel-Gugerell:  Enhancing infrastructures for the EU financial market
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 11th Euro Finance Week European Transaction Banking Conference Frankfurt am Main, 17 November 2008
14/11/2008
Jürgen Stark:  Closing address at the Fifth ECB Central Banking Conference
Speech by Jürgen Stark, Member of the Executive Board of the ECB Fifth ECB Central Banking Conference The Euro at ten: lessons and challenges Frankfurt am Main, 14 November 2008
12/11/2008
Jürgen Stark:  Growth and productivity of the financial sector: challenges for monetary policy
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at High-Level BCL Policy Panel Luxembourg, 12 November 2008
7/11/2008
Lorenzo Bini Smaghi:  Economic policies on the two sides of the Atlantic: (why) are they different?
Lecture by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Collegio Carlo Alberto, Moncalieri, 7 November 2008
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28/10/2008
Lorenzo Bini Smaghi:  Growth and inflation in the euro area: the importance of productivity in the services sector
Keynote speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the Ludwig Erhard Lecture in Brussels on 28th October 2008
27/10/2008
Gertrude Tumpel-Gugerell:  Do you SEPA? The ECB's point of view
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Keynote speech at the 3rd International Payments Summit Milan, 27 October 2008
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22/10/2008
José Manuel González-Páramo:  Future of banking supervision in Europe
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB IBF National Conference 2008 “Beyond Financial Turmoil” Dublin, 22 October 2008
20/10/2008
Lorenzo Bini Smaghi:  Some thoughts on the international financial crisis
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Meeting with the Unione Cristiana Imprenditori e Dirigenti Milan, 20 October 2008
20/10/2008
Gertrude Tumpel-Gugerell:  The role of retail finance for financial markets efficiency and stability
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Eleventh Conference of the ECB-CFS Research Network Prague, 20 October 2008
16/10/2008
José Manuel González-Páramo:  Liquidity, financial markets and the economy: The role of central banks
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Fundación Caixa Galicia Santiago de Compostela, 16 October 2008
10/10/2008
Lorenzo Bini Smaghi:  The internationalisation of currencies – A central banking perspective
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Conference “The euro at 10: The next global currency?” hosted by the Peterson Institute of International Economics and BRUEGEL Washington, 10 October 2008
30/9/2008
José Manuel González-Páramo:  Sub-prime crisis, liquidity tensions and central banks: One year on
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB 2nd Spanish Capital Markets Forum Madrid, 30 September 2008
26/9/2008
Lorenzo Bini Smaghi:  Introductory remarks at the Roundtable discussion 'How to strengthen Europe’s financial stability framework?'
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB CFS-IMF Conference 'A Financial Stability Framework for Europe: Managing Financial Soundness in an Integrated Market' Frankfurt am Main, 26 September 2008
25/9/2008
José Manuel González-Páramo:  Central banks and the financial turmoil
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Eleventh Annual International Banking Conference “Credit Market Turmoil in 2007-08: Implications for Public Policy” Federal Reserve Bank of Chicago Chicago, 25 September 2008
25/9/2008
Lorenzo Bini Smaghi:  Celebrating 50 years of Europe
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the Project Europe 2.0 Institute of International & European Affairs Dublin, 25 September 2008
12/9/2008
Gertrude Tumpel-Gugerell:  Priorities for EU infrastructures and prospects of transatlantic infrastructures
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the EUROFI Conference Nice, 12 September 2008
11/9/2008
Gertrude Tumpel-Gugerell:  EU priorities for investment funds and EU securities infrastructures
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the EUROFI Conference Nice, 11 September 2008
9/9/2008
José Manuel González-Páramo:  Some lessons from the global financial turmoil
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB IIF Conference on “Global Financial Turmoil: Next Steps for the Industry” London, 9 September 2008
9/9/2008
Gertrude Tumpel-Gugerell:  SEPA for cards
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB EFMA Conference on Cards and Payments 'SEPA calls for an additional European card scheme' Paris, 9 September 2008
8/9/2008
Gertrude Tumpel-Gugerell:  What is the role of central banks for banking supervision?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Introductory remarks at panel discussion at the ZEIT Konferenz ‘Finanzplatz: Menschen und Entscheidungen’ Frankfurt am Main, 8 September 2008
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8/9/2008
Jürgen Stark:  Economic perspectives and monetary policy
Speech by Jürgen Stark Member of the Executive Board and the Governing Council delivered at Fionia Bank Investment Conference Nyborg, Denmark, 8 September 2008
5/9/2008
Lorenzo Bini Smaghi:  Slides from the presentation at the Conference "The ECB and its Watchers X"
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Solvency, systemic risk and moral hazard: Where does the central bank’s role begin and where does it end? Frankfurt am Main, 5 September 2008
5/9/2008
José Manuel González-Páramo:  Globalisation, macroeconomic stability and monetary policy at a time of financial turmoil
Speech by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank FCAVN Seminar on “Globalisation in the XXI Century: Challenges and Dilemmas” San Sebastián, 5 September 2008
5/9/2008
Jürgen Stark:  Monetary policy during the financial turmoil: what have we learned?
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at “The ECB and its Watchers X” Frankfurt am Main, 5 September 2008
3/9/2008
Gertrude Tumpel-Gugerell:  Speech at the EPC Coordination Committee offsite meeting in Château-de-Limelette
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 3 September 2008
1/9/2008
Gertrude Tumpel-Gugerell:  Introductory statement at the press conference held at the Central Bank of Serbia on the occasion of the start of the ECB/ESCB needs analysis programme in Belgrade, Serbia
Gertrude Tumpel-Gugerell, Member of the Executive Board and of the Governing Council of the European Central Bank Press conference on occasion of the signing of the protocol between the European Central Bank, the National Bank of Serbia, the European Agency for Reconstruction and the Delegation of the European Commission to the Republic of Serbia Belgrade, 1 September 2008
11/7/2008
José Manuel González-Páramo:  Financial systems, new technologies and productivity growth
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Ronda, 11 July 2008
9/7/2008
José Manuel González-Páramo:  Política monetaria y gestión de liquidez en tiempos de turbulencias económicas y financieras
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE VIII Encuentro Financiero Internacional Madrid, 9 de julio de 2008
2/7/2008
Gertrude Tumpel-Gugerell:  The future of cards and payments: SEPA for cards
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB The IEA & Marketforce’s Inaugural Conference on “The future of cards and payments” London, 2 July 2008
24/6/2008
Lorenzo Bini Smaghi:  Public Hearing on EMU@10: The first ten years of Economic and Monetary Union and future challenges - Introductory comments
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Brussels, 24 June 2008
20/6/2008
Jürgen Stark:  Von der Hyperinflation in Deutschland zur einheitlichen europäischen Währung - Bedingungen und Elemente einer stabilitätsorientierten Währungsverfassung
Rede anlässlich der Veranstaltungsreihe der Stadt Bad Homburg „60 Jahre Währungsreform“ Von Jürgen Stark, Mitglied des Direktoriums und des Rates der Europäischen Zentralbank Bad Homburg, 20. Juni 2008
18/6/2008
Gertrude Tumpel-Gugerell:  Towards an integrated securities market – The TARGET2-Securities project
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the 12th FESE Convention Stockholm, 18 June 2008
17/6/2008
Jürgen Stark:  Möglichkeiten und Grenzen der Geldpolitik – Erfahrungen in turbulenten Zeiten
Rede vor dem Verein zur Förderung des Instituts für Bankwirtschaft und Bankrecht an der Universität zu Köln e.V. von Jürgen Stark, Mitglied des Direktoriums und des Rates der Europäischen Zentralbank Köln, 17. Juni 2008
16/6/2008
Gertrude Tumpel-Gugerell:  Speech at the International Bankers’ Club
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Luxembourg, 16 June 2008
14/6/2008
Gertrude Tumpel-Gugerell:  Herausforderungen für die Geldpolitik im Lichte der jüngsten Finanzmarktentwicklungen
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Kocheler Kreis für Wirtschaftspolitik der Friedrich-Ebert-Stiftung: Kapitalmärkte, Banken und die Rolle der Politik Berlin, 14. Juni 2008
12/6/2008
Lorenzo Bini Smaghi:  Supervision and central banking: improving the exchange of information
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Remarks at the Workshop “Financial turmoil and missing risks: new challenges for bankers and regulators” Milan, 12 June 2008
11/6/2008
Jürgen Stark:  Lessons for central bankers from the history of the Phillips Curve
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the Conference “Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective” Cape Cod, 11 June 2008
9/6/2008
Gertrude Tumpel-Gugerell:  Central banks, liquidity and a changing financial market infrastructure
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Joint Banque de France / European Central Bank conference on “Liquidity in interdependent transfer systems” Paris, 9-10 June 2008
1/6/2008
José Manuel González-Páramo:  Financial turmoil, securitisation and liquidity
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Global ABS Conference 2008 Cannes, 1 June 2008
19/5/2008
José Manuel González-Páramo:  Los primeros diez años de la Unión Monetaria Europea
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE Jornada de la Fundación para el Análisis y los Estudios Sociales (FAES) sobre Décimo Aniversario del Acceso de España al Euro Madrid, 19 de mayo de 2008
15/5/2008
Gertrude Tumpel-Gugerell:  Dinner speech at the 8th meeting of the T2S Advisory Group
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 8th meeting of the T2S Advisory Group Frankfurt am Main, 15 May 2008
15/5/2008
Lorenzo Bini Smaghi:  From Tuscany’s 19th century currency, the fiorino, to the euro: dialogue on international finance
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB in the Sala Luca Giordano at the Palazzo Medici Riccardi, Florence 15 May 2008
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6/5/2008
Gertrude Tumpel-Gugerell:  Ten years of European Monetary Union: What is the role of national central banks today?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Oesterreichische Nationalbank’s High Level Evening Panel Discussion: “Ten years of European Monetary Union: What is the role of national central banks today?” Brussels, 6 May 2008
25/4/2008
José Manuel González-Páramo:  Concluding Remarks at the Fourth ECB conference on statistics “A strategic vision for statistics: challenges for the next ten years”
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Frankfurt am Main, 25 April 2008
24/4/2008
Jürgen Stark:  The contribution of monetary and financial statistics to the conduct of monetary policy
Jürgen Stark, Member of the Executive Board of the ECB Statement delivered at the 4th ECB Conference on Statistics “A strategic vision for statistics – Challenges for the next 10 year” Frankfurt am Main, 24 April 2008
21/4/2008
Gertrude Tumpel-Gugerell:  High-level panel: Improving the efficiency and integration of post-trading arrangements in Europe
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Joint ECB/European Commission conference: ‘The Safety and Efficiency of Post-Trading Arrangements in Europe’ Frankfurt am Main, 21-22 April 2008
17/4/2008
Gertrude Tumpel-Gugerell:  Corporates in the Single Euro Payments Area: Business as usual?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB “Panel discussion: Cash Management in 20 years” at the 20th Finanzsymposium 17 April 2008, Mannheim
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15/4/2008
Gertrude Tumpel-Gugerell:  Building and preserving trust – Challenges for the financial community
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Meeting of the International Chamber of Commerce Commission on Banking Technique and Practice Athens, 15-16 April 2008
15/4/2008
Jürgen Stark:  Monetary policy and the euro
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the conference on “Advantages and benefits of the euro – time for assessment” at the European Economic and Social Committee, Brussels, 15 April 2008
14/4/2008
José Manuel González-Páramo:  Whither liquidity? Developments, policies and challenges
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB 28th Nomura Central Bankers Seminar Tokyo, 14 April 2008
5/4/2008
Jürgen Stark:  The Agenda for the Competitiveness of Europe’s Economy and Financial System
Speech by Jürgen Stark, Member of the Executive Board of the ECB Speech delivered at Ambrosetti Finance Workshop Cernobbio, 5 April 2008
4/4/2008
Lorenzo Bini Smaghi:  Financial stability and monetary policy: Challenges in the current turmoil
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB CEPS joint event with Harvard Law School on the EU-US financial system New York, 4 April 2008
28/3/2008
Jürgen Stark:  Speech delivered at the Conference 'Monetary Policy in Sub Saharan Africa: Practice and Promise'
Speech by Jürgen Stark, Member of the Executive Board of the ECB Cape Town, 28 March 2008
18/3/2008
Lorenzo Bini Smaghi:  The international role of the euro and its potential in Latin America
Keynote speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB São Paulo, Brazil, 17-18 March 2008
17/3/2008
Jürgen Stark:  Bullet Points for intervention delivered at the OECD-IMF Conference on structural reforms
By Jürgen Stark, Member of the Executive Board of the ECB Paris, 17 March 2008
7/3/2008
Jürgen Stark:  Contribution to the session on “Implications for the conduct of monetary policy”
Speech by Jürgen Stark, Member of the Executive Board of the ECB at International Symposium on “Globalisation, Inflation and Monetary Policy” organised by the Banque de France Paris, 7 March 2008
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29/2/2008
José Manuel González-Páramo:  Tensiones financieras, incertidumbre y mercados monetarios: La experiencia del Banco Central Europeo
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE Facultad de Ciencias Económicas y Empresariales, Universidad de Oviedo 29 febrero 2008
22/2/2008
José Manuel González-Páramo:  Reflexiones sobre el problema del envejecimiento de la población
José Manuel González-Páramo Miembro del Comité Ejecutivo del Banco Central Europeo Presentación de las conclusiones del estudio «Instrumentos Financieros para la Jubilación» Fundación de Estudios Financieros Madrid, 22 de febrero de 2008
14/2/2008
José Manuel González-Páramo:  Closing remarks at the Second Symposium of the ECB-CFS Research Network on “Capital Markets and Financial Integration in Europe”
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Second Symposium of the ECB-CFS Research Network on “Capital Markets and Financial Integration in Europe” Frankfurt am Main, 14 February 2008
13/2/2008
Jürgen Stark:  The adoption of the euro: principles, procedures and criteria
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the Icelandic Chamber of Commerce Reykjavik, 13 February 2008
28/1/2008
Gertrude Tumpel-Gugerell:  SEPA goes live
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Launch event organised by the European Commission, the European Central Bank and the European Payments Council Brussels, 28 January 2008
24/1/2008
Lorenzo Bini Smaghi:  The economic governance of the European Union in the light of the Treaty of Lisbon: harmonisation or competition between countries?
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Speech given at the conference on: The European Central Bank: a new actor on the international scene, Milan, 24 January 2008
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22/1/2008
Jürgen Stark:  Does the euro area need an economic government?
Statement delivered at the HEC European Executive Campus by Jürgen Stark, Member of the Executive Board of the ECB Brussels, 22 January 2008
22/1/2008
Gertrude Tumpel-Gugerell:  The Single Euro Payments Area in a global context
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB “The Global Payments Strategies 2008” Conference Hosted by NACHA - The Electronic Payments Association Brussels, 22 January 2008
16/1/2008
Jürgen Stark:  Knowns and unknowns about the creation of economic wealth in the euro area
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at joint European Central Bank, Banque de France and The Conference Board Conference on “The Creation of Economic and Corporate Wealth in a Dynamic Economy” Frankfurt am Main, 16 January 2008
12/12/2007
Jürgen Stark:  The external dimension of monetary analysis
Dinner speech by Jürgen Stark, Member of the Executive Board of the ECB on the occasion of the ECB workshop on The external dimension of monetary analysis Frankfurt am Main, 12 December 2007
10/12/2007
Lorenzo Bini Smaghi:  Banking consolidation, innovation and access to credit
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB CESIFIN Florence, 11 December 2007
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3/12/2007
Lorenzo Bini Smaghi:  Globalisation and public perceptions
Dinner speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the joint meeting of the GEPA-GPA-GSPA Brussels, 3 December 2007
3/12/2007
José Manuel González-Páramo:  The role of information and communication in central bank policy: The experience of the recent financial turmoil
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Keynote address at SUERF Conference on “Tracking Financial Behavior: Where do Macro and Micro Meet?” Milan, 3 December 2007
30/11/2007
Gertrude Tumpel-Gugerell:  TARGET2-SECURITIES Gains from integrating the European post-trade infrastructure – the case for T2S
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the IEA conference on the ECB’s proposal for TARGET2-Securities Dublin, 30 November 2007
29/11/2007
Jürgen Stark:  The monetary policy transmission mechanism: in light of recent changes in banking and financial innovation
Speech by Jürgen Stark, Member of the Executive Board of the ECB Speech delivered at the conference “The implications of changes in banking and financing on the monetary policy transmission mechanism” Frankfurt am Main, 29 November 2007
26/11/2007
Jürgen Stark:  Delivering price stability: benefits and challenges
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the conference “Defining Price Stability: Theoretical Options and Practical experience” Frankfurt, 26 November 2007
26/11/2007
Gertrude Tumpel-Gugerell:  The euro – benefits and challenges
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Conference “Poland and the EURO” Warsaw, 26 November 2007
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20/11/2007
Lorenzo Bini Smaghi:  The value of central bank communication
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Financial market speech series Landesbank Hessen-Thüringen permanent representation of Hessen in Brussels Brussels, 20 November 2007
20/11/2007
Gertrude Tumpel-Gugerell:  Press conference on the launch of TARGET2: TARGET2 and European market integration
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Frankfurt am Main, 20 November 2007
20/11/2007
Lorenzo Bini Smaghi:  Real and nominal convergence: policy challenges
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the Conference on European Economic Integration 2007 Currency and Competitiveness, Oesterreichische Nationalbank Vienna, 20 November 2007
19/11/2007
Gertrude Tumpel-Gugerell:  Going the extra mile to be ready for SEPA
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB delivered at 10th Euro Finance Week - SEPA Summit: “Ready for SEPA?” Frankfurt am Main, 19 November 2007
15/11/2007
Jürgen Stark:  Monetary policy and the money market: key principles and recent experience
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at Bayerischer Bankenverband, Munich, 15 November 2007
12/11/2007
Gertrude Tumpel-Gugerell:  Opening remarks "Payments and monetary and financial stability"
Opening remarks by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at a joint ECB and the Bank of England conference on “Payments and monetary and financial Stability” Frankfurt, 12-13 November 2007
29/10/2007
José Manuel González-Páramo:  La experiencia de integración financiera de la Unión Europea
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE II Foro Perú-Unión Europea: Una perspectiva del Perú, América Latina y Europa Fundación Euroamérica, Lima, 29 de octubre de 2007
26/10/2007
Lorenzo Bini Smaghi:  Legal system and financial markets
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Opening remarks at the conference “Legal issues related to the financial markets” Frankfurt am Main, 26 October 2007
24/10/2007
José Manuel González-Páramo:  The euro money and financial markets: Where do we stand?
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB The Spanish Capital Markets Forum Madrid, 24 October 2007
21/10/2007
Lorenzo Bini Smaghi:  Financial globalisation and excess liquidity: monetary policies and new uncertainties
Remarks by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Euro50-Natixis breakfast seminar Willard Intercontinental Hotel, Washington DC 21 October 2007
11/10/2007
Jürgen Stark:  Productivity, structural reforms and globalisation
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the Unternehmerforum Brussels, 11 October 2007
11/10/2007
José Manuel González-Páramo:  The euro area economy and the financial markets
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Opening Ceremony of the Doctoral Course in “Economic Integration and Public Policies” University of Coruña, 11 October 2007
9/10/2007
Gertrude Tumpel-Gugerell:  Leveraged Finance, Banks and Transparency. Concluding Remarks
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 9th ECB-CFS Research Network Conference on “Asset Management, Private Equity Firms and International Capital Flows” Dublin, 9 October 2007
8/10/2007
Gertrude Tumpel-Gugerell:  SEPA – three months to go and full steam ahead?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB European Finance Forum Frankfurt am Main, 8 October 2007
1/10/2007
Lorenzo Bini Smaghi:  Real convergence in Central, Eastern and South-Eastern Europe
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the ECB Conference on central, eastern and south-eastern Europe, Frankfurt, 1 October 2007
1/10/2007
Jürgen Stark:  Fast, but sustainable? Challenges and policy options for the catching-up process of central and eastern European countries
Speech by Jürgen Stark, Member of the Executive Board of the ECB delivered at the Economic conference on central, eastern and south-eastern Europe Frankfurt am Main, 1 October 2007
27/9/2007
Gertrude Tumpel-Gugerell:  TARGET2-Securities: A big win for European integration
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the Journal of Financial Transformation dinner London, 27 September 2007
26/9/2007
Gertrude Tumpel-Gugerell:  Presentation on TARGET2-Securities (slides). Hearing before the ECON Committee
Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Brussels, 26 September 2007
21/9/2007
Lorenzo Bini Smaghi:  The exchange rate policy of the Euro
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Annual Meeting Association Française de Sciences Economiques La Sorbonne, 21 September 2007
13/9/2007
Gertrude Tumpel-Gugerell:  Conference related to the 10th Anniversary of the Central Bank of Bosnia and Herzegovina
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Sarajevo, 13 September 2007
11/9/2007
José Manuel González-Páramo:  MiFID - non-equities market transparency: the ECB’s perspective
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the Public hearing on non-equities markets transparency organised by the European Commission Brussels, 11 September 2007
7/9/2007
Jürgen Stark:  Enhancing the monetary analysis
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the conference ‘The ECB and its Watchers IX’, Frankfurt am Main, 7 September 2007
3/9/2007
Gertrude Tumpel-Gugerell:  SEPA – from steam train to TGV?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Off-site meeting of the European Payments Council Brugge/Bruges, 3 September 2007
29/8/2007
Gertrude Tumpel-Gugerell:  „Better Regulation“ im Finanzsektor – die Sicht der Europäischen Zentralbank
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Bankenseminar: „Demografischer Wandel – Konsequenzen und Implikationen für Finanzmärkte und Banken“ Europäisches Forum, Alpbach, 29. August 2007
10/7/2007
Jürgen Stark:  Introductory Statement (issues paper) at a dinner with members of the Internationaler Club of Frankfurter Wirtschaftsjournalisten
Speech by Jürgen Stark, Member of the Executive Board of the ECB Frankfurt am Main, 10 July 2007
9/7/2007
Jürgen Stark:  Die EZB – Geldpolitik für den Euroraum
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB Vortrag im Rahmen des Sparkassen-Wirtschaftsforums 2007 der Kreissparkasse Tuttlingen Tuttlingen, 9. Juli 2007
5/7/2007
Lorenzo Bini Smaghi:  The future of the Treaty: implications for economic governance in Europe
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB 50 Jahre “Römische Verträge”, Johann-Wolfgang Goethe Universität, Frankfurt am Main, 5 July 2007
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3/7/2007
Lorenzo Bini Smaghi:  The euro as an international currency: implications for exchange rate policy
Speech by Lorenzo Bini Smaghi , Member of the Executive Board of the ECB Euro50 Group meeting 50 YEARS AFTER THE TREATY OF ROME: STRENGTHENING THE ECONOMIC LEG OF EMU, 2-3 July 2007, Rome, Italy
28/6/2007
José Manuel González-Páramo:  Progress towards a Framework for Financial Stability Assessment
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB OECD World Forum on “Statistics, Knowledge and Policy” Istanbul, 28 June 2007
22/6/2007
Lorenzo Bini Smaghi:  Is the euro making countries fitter for globalisation?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Dinner speech at the European University Institute Fiesole, 22 June 2007
19/6/2007
Lorenzo Bini Smaghi:  Asymmetric Adjustment in Monetary Unions:Evidence from the Euro Area
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Conference at the German Institute for International and Security Affairs The Eurozone under stretch? Analysing regional divergences in EMU: Facts, Dangers and Cures Berlin, 19 June 2007
15/6/2007
José Manuel González-Páramo:  Expectations and credibility in modern central banking: A practitioner’s view”
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Conference on “Inflation Targeting, Central Bank Independence and Transparency” Cambridge, 15 June 2007
1/6/2007
José Manuel González-Páramo:  The New Quarterly ‘National Accounts’
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Presentation to the Press of the First release of the Quarterly Euro Area and European Union Accounts for Institutional Sectors Brussels, 1 June 2007
24/5/2007
Lorenzo Bini Smaghi:  With or Without Prejudice to Price Stability?
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the Barclays Capital Annual Conference London, 24 May 2007
23/5/2007
Gertrude Tumpel-Gugerell:  Globalisation – a challenge for the euro area
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB International Conference on “Opportunities of the European Economy in Global Competition” Tallinn, 23 May 2007
15/5/2007
Gertrude Tumpel-Gugerell:  The new SEPA landscape from vision to reality (and back)
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at 2007 EPCA Payments Conference Frankfurt am Main, 15 May 2007
8/5/2007
Gertrude Tumpel-Gugerell:  Making SEPA a reality – Involving the public sector in the Single Euro Payments Area
Keynote address by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the conference “SEPA: An opportunity for Europe – Role of the public sector” organised by the European Commission, Brussels, 8 May 2007
7/5/2007
Gertrude Tumpel-Gugerell:  Financial integration, modernisation and competitiveness in Europe: achievements and challenges
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the High-Level Panel Discussion “One market, one currency: Do we use the euro to its full potential” Brussels Representative Office of the OeNB Brussels, 7 May 2007
3/5/2007
Gertrude Tumpel-Gugerell:  Modernising payments: 'no pain – no gain'
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 2007 Payments Conference: 'Non-banks in the Payments System: Innovation, Competition, and Risk' Federal Reserve Bank of Kansas City May 2-4, 2007
19/4/2007
José Manuel González-Páramo:  La Unión Monetaria Europea después de ocho años: ¿Qué hemos aprendido?
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE XXVIII Simposio Internacional de Economía “Economic Policies that Work” Monterrey, 19 de abril de 2007
19/4/2007
Lorenzo Bini Smaghi:  Central bank independence: from theory to practice
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB* at the conference Good Governance and Effective Partnership Budapest, Hungarian National Assembly, 19 April 2007
26/3/2007
Lorenzo Bini Smaghi:  L’Union Economique et Monétaire :Quelle place pour la Zone Euro sur la scène internationale?
50 ans de construction européenne Intervention de Lorenzo Bini Smaghi, membre du directoire de la BCE Sciences PO Paris, le 26 mars 2007
23/3/2007
Jürgen Stark:  Fit for the future? Towards a lean and efficient public sector
Speech by Jürgen Stark, Member of the Executive Board of the ECB given at the conference “Fiscal Policy Challenges in Europe” organised by the German Ministry of Finance and Centre for European Economic Research 23 March 2007
23/3/2007
Gertrude Tumpel-Gugerell:  Regulatory framework and payment systems issues
Presentation by Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank Conference of the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) entitled “Financial transfers from migrants in the Euro-Mediterranean area: a lever for development” Paris, 22–23 March 2007
16/3/2007
José Manuel González-Páramo:  Globalisation and monetary policy
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Seminar, Suomen Pankki – Finlands Bank Helsinki, 15 March 2007
14/3/2007
Lorenzo Bini Smaghi:  Introductory remarks at Internationaler Club Frankfurter Wirtschaftsjournalisten
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at a dinner with members of the Internationaler Club Frankfurter Wirtschaftsjournalisten Frankfurt, 14 March 2007
12/3/2007
Gertrude Tumpel-Gugerell:  The competitiveness of European financial markets. An economic framework for effective policy-making
Presentation by Gertrude Tumpel-Gugerell Member of the Executive Board of the ECB 2007 Washington Economic Policy Conference Washington, D.C., 12 March 2007
27/2/2007
Lorenzo Bini Smaghi:  The governance of the euro area (eight years on)
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the round table organised by HEC School of Management Brussels, 27 February 2007
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16/2/2007
José Manuel González-Páramo:  Los retos de la banca minorista europea, con especial referencia al mercado hipotecario
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE XVI Jornadas de las Cajas Rurales de la Comunidad de Valencia 16 de febrero de 2007
16/2/2007
Gertrude Tumpel-Gugerell:  Introductory statement to the Press conference in Sarajevo
by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, on the occasion of the signing of the tripartite protocol between the European Central Bank, the Central Bank of Bosnia and Herzegovina and the Delegation of the European Commission to Bosnia and Herzegovina, Sarajevo, 16 February 2007
15/2/2007
Lorenzo Bini Smaghi:  Slides from the presentation at the Business Forecast Event
Presentation by Lorenzo Bini Smaghi Member of the Executive Board of the ECB The current economic outlook in the euro area and EU at the Business Forecast Event Graduate School of Business University of Chicago Frankfurt am Main, 14 February 2007
13/2/2007
Gertrude Tumpel-Gugerell:  The European Central Bank’s view on SEPA
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Colloquium « Mise en place du SEPA : quel bénéfice pour l'Europe ? » Sénat français, Palais du Luxembourg, Paris, 13 February 2007.
5/2/2007
José Manuel González-Páramo:  Strukturreformen in Europa: von Zielen zu Fakten
Rede von José Manuel González-Páramo, Mitglied des Direktoriums der EZB 4. Deutsch-Spanisches Forum Dritter Veranstaltungsteil: Die Strategie von Lissabon – Kann und muss Europa seine Ziele erreichen? (La estrategia de Lisboa ¿Puede y debe Europa alcanzar sus objetivos?) Berlin, 5. Februar 2007
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27/1/2007
Lorenzo Bini Smaghi:  Lo scenario economico e finanziario per l’Europa
Discorso di Lorenzo Bini Smaghi, Membro del Comitato esecutivo della BCE Intervento al Forum Economia e Risparmio Milano, 27 gennaio 2007
25/1/2007
José Manuel González-Páramo:  The challenges to liquidity management in the euro area: the perspective of the ECB
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB 30th Annual European Treasury Symposium Berlin, 25 January 2007
25/1/2007
Jürgen Stark:  Applause for 2006 should not abate policy efforts for 2007
Speech by Jürgen Stark, Member of the Executive Board of the ECB on the occasion of the New Year’s Reception at Deutsches Aktieninstitut e.V., Brussels Brussels, 25 January 2007
19/1/2007
Jürgen Stark:  Objectives and challenges of monetary policy: a view from the ECB
Speech by Jürgen Stark, Member of the Executive Board of the ECB Conference on inflation targeting, Magyar Nemzeti Bank (MNB) Budapest, 19 January 2007
18/1/2007
Lorenzo Bini Smaghi:  Global capital and national monetary policies
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the European Economic and Financial Centre London, 18 January 2007
16/1/2007
Jürgen Stark:  Die Währungsunion als Klammer der EU?
Rede von Jürgen Stark, Mitglied des Direktoriums der EZB Vortrag im Rahmen der Europa-Ringvorlesung “Die Zukunft Europas” Universität Tübingen Aktionsgemeinschaft Soziale Marktwirtschaft Tübingen, 16. Januar 2007
15/1/2007
José Manuel González-Páramo:  Welcome to the euro, farewell to the tolar
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Euro Conference – Session: “The euro and the public at large” Ljubljana, 15 January 2007
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15/1/2007
Gertrude Tumpel-Gugerell:  Panel intervention at the Euro conference hosted by Banka Slovenije
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Ljubljana, 15 January 2007
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18/12/2006
Gertrude Tumpel-Gugerell:  Dinner speech: TARGET2-Securities meeting with market participants
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Frankfurt am Main, 18 December 2006
14/12/2006
Jürgen Stark:  Die Geldpolitik der Europäischen Zentralbank (Präsentationsfolien)
Vortrag von Jürgen Stark, Mitglied des Direktoriums der EZB Johann Wolfgang Goethe-Universität, Frankfurt am Main, 14. Dezember 2006
1/12/2006
José Manuel González-Páramo:  The ageing problem: its impact on financial markets and possible policy responses
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Workshop: 'Funding social security systems – international experiences' Würzburg, 1 December 2006
1/12/2006
Gertrude Tumpel-Gugerell:  Financial Integration and Stability in Europe. Concluding remarks
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Conference on “Financial Integration and Stability in Europe” organised by the Banco de España, the Center for Financial Studies and the European Central Bank Madrid, 1 December 2006
30/11/2006
Gertrude Tumpel-Gugerell:  TARGET2-Securities: from vision to reality. The Eurosystem’s contribution to an integrated securities market
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB EU Commission’s Conference on “The EU’s new regime for clearing and settlement in Europe” Brussels, 30 November 2006
30/11/2006
José Manuel González-Páramo:  The enlargement of the euro area
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB held at the conference on “EMU governance and euro changeover – Cyprus on the path to the adoption of the euro” Cyprus, 30 November 2006
24/11/2006
José Manuel González-Páramo:  De las musas al teatro: Ocho años de política monetaria única
Discurso pronunciado por José Manuel González-Páramo, miembro del Comité Ejecutivo del BCE Asociación de Mercados Financieros (ACI-España) Madrid, 24 de noviembre de 2006
20/11/2006
Jürgen Stark:  Economic and monetary challenges of euro area enlargement
Dinner speech by Jürgen Stark, Member of the Executive Board of the ECB held at the conference “The changing landscape of FDI in Europe” organized by the Oesterreichische Nationalbank Vienna, 20 November 2006
15/11/2006
Lorenzo Bini Smaghi:  Ageing, pension funds and household wealth allocation in the euro area
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Keynote speech at the European Pension Funds Congress Euro Finance Week Frankfurt, 15 November 2006
13/11/2006
Gertrude Tumpel-Gugerell:  Concluding remarks 'SEPA – Opportunities by Change'
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Conference “SEPA Summit” at the Euro Finance Week Frankfurt am Main, 13 November 2006
13/11/2006
José Manuel González-Páramo:  Fomentando la cultura económica y financiera
José Manuel González-Páramo Miembro de la Comisión Ejecutiva y del Consejo de Gobierno del Banco Central Europeo I Jornadas de las Industrias Culturales Andaluzas Sevilla, 13 de noviembre de 2006
9/11/2006
Jürgen Stark:  The role of money: Money and monetary policy in the twenty-first century
Introductory remarks by Jürgen Stark, Member of the Executive Board of the ECB held at Fourth ECB Central Banking Conference Frankfurt am Main, 9 November 2006
9/11/2006
Lorenzo Bini Smaghi:  Economia europea e politica monetaria
Lorenzo Bini Smaghi, Membro del Comitato esecutivo della BCE Intervento al seminario SACE “Competizione globale: opportunità e sfide per l’Italia” Milano, 9 novembre 2006
30/10/2006
Lorenzo Bini Smaghi:  Monetary and financial stability: Challenges in South-Eastern Europe
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Keynote Speech at the Bank of Albania 6th International Conference “Regional financial markets and financial stability. A concept between national sovereignty and globalisation”. Tirana, Albania 30 October 2006
27/10/2006
José Manuel González-Páramo:  Europe’s Monetary Union in practice
Keynote speech by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank, 14th Osaka City University (OCU) International Academic Symposium, Osaka, 27 October 2006
26/10/2006
Jürgen Stark:  Vortrag anlässlich des Banken- und Unternehmensabend 'Die Bedeutung des Euro-Raums in der Weltwirtschaft'
Prof. Dr. Jürgen Stark Mitglied des Direktoriums der Europäischen Zentralbank Mitglied des EZB-Rats der Europäischen Zentralbank Deutsche Bundesbank, Hauptverwaltung München München, 26 Oktober 2006
26/10/2006
Lorenzo Bini Smaghi:  Three Questions on Monetary Tightening
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Nomura conference Tokyo, 26-27 October 2006
24/10/2006
José Manuel González-Páramo:  Statistical challenges raised by globalisation
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, delivered by Steven Keuning, Director General Statistics, Frankfurt, 24 October 2006
23/10/2006
Gertrude Tumpel-Gugerell:  Building the Future – Integrating Europe’s Financial Sector
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB “Networked Business and Government – Something Real for the Lisbon Strategy” Finland’s EU Presidency Conference Helsinki, 23-24 October 2006
13/10/2006
Jürgen Stark:  The euro area’s role in the global economy
Speech by Jürgen Stark, Member of the Executive Board and the Governing Council of the European Central Bank, held at The Institute of European Affairs, Dublin, 13 October 2006
29/9/2006
Jürgen Stark:  The role of central banks in economic and personal finance education
Speech by Jürgen Stark, Member of the Executive Board of the ECB at the International conference of central bankers and economic educators Warsaw, 29 September 2006
28/9/2006
José Manuel González-Páramo:  Expectations, uncertainty and the design of monetary policy
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB European Economics and Financial Centre, London, 28 September 2006
28/9/2006
Lorenzo Bini Smaghi:  Democratic Representation and Economic Policy Rules in an Ageing Society
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Eumoniamaster – Institutional and Political Higher Education Villa Morghen, Florence, 28 September 2006
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28/9/2006
Gertrude Tumpel-Gugerell:  Opening remarks at the conference on Financial System Modernisation and Economic Growth in Europe
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the Conference “Financial System Modernisation and Economic Growth in Europe” by the Deutsche Bundesbank, the European Central Bank and the Center for Financial Studies Berlin, 28-29 September 2006
20/9/2006
Gertrude Tumpel-Gugerell:  A SEPA for cards: a contribution to a cashless society?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB EFMA Cards and Payments Conference Paris, 20 September 2006
18/9/2006
Gertrude Tumpel-Gugerell:  Economic Outlook and Policy Challenges for the Euro Area
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Swedbank’s “Economic Outlook Conference” Stockholm , 18 September 2006
18/9/2006
José Manuel González-Páramo:  Statistics for the international financial system
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the Seminar entitled Informing markets: statistical challenges facing the global economy Singapore, 18 September 2006
17/9/2006
Jürgen Stark:  Key issues facing the global economy outlook for the European economy: regaining prominence in the global economy?
Presentation by Jürgen Stark Member of the Executive Board of the ECB 2006 Annual Membership Meeting of the IIF Singapore, 17 September 2006
15/9/2006
José Manuel González-Páramo:  Fiscal policies and financial markets in EMU
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB International Conference in Macroeconomics Valencia, 15 September 2006
7/9/2006
Gertrude Tumpel-Gugerell:  From theory to practice: let’s roll out the cables
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Off-site meeting of the European Payments Council Durbuy, 7 September 2006
18/7/2006
Lorenzo Bini Smaghi:  Financial globalisation and integration: What’s next? A forward-looking perspective
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Conference on “Financial Globalisation and Integration” Frankfurt am Main, 17-18 July 2006
17/7/2006
Jürgen Stark:  Financial globalisation: Economic Policies in a New Era
Introductory remarks by Jürgen Stark, Member of the Executive Board of the ECB Conference on Financial Globalisation and Integration Frankfurt am Main, 17 July 2006
17/7/2006
Gertrude Tumpel-Gugerell:  Preliminary Findings of the Retail Banking Sector Inquiry
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at the European Commission’s Public Hearing Brussels, 17 July 2006
14/7/2006
Lorenzo Bini Smaghi:  European and Asian Perspectives on Global Imbalances
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Beijing, 12-14 July 2006
6/7/2006
Gertrude Tumpel-Gugerell:  European Financial Integration and the Financial System
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Third conference of the Monetary Stability Foundation “Challenges to the financial system – ageing and low growth” Frankfurt am Main, 6-7 July 2006
29/6/2006
Gertrude Tumpel-Gugerell:  Round table conference on m-Payments
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB organised by LogicaCMG Brussels, 29 June 2006
26/6/2006
Lorenzo Bini Smaghi:  Quale Agenda per la Politica Economica Europea?
Intervento di Lorenzo Bini Smaghi, Membro del Comitato esecutivo della BCE XVIII Villa Mondragone International Economic Seminar on “Europe: A New Economic Agenda” CEIS – University of Rome Tor Vergata 26-27 July 2006
15/6/2006
Gertrude Tumpel-Gugerell:  ABI-SWIFT 'SPIN 2006' Conference on 'The drivers of change: regulation versus competition'
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Rome, 15 June 2006
9/6/2006
José Manuel González-Páramo:  Central Banks and Global Imbalances: Introduction to the round table
José Manuel González-Páramo Member of the Executive Board and the Governing Council of the European Central Bank International Conference: “Central Banks in the 21st Century” organised by the Banco de España Madrid, 9 June 2006
9/6/2006
Gertrude Tumpel-Gugerell:  Drivers for change in payment and securities settlement systems
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB at a conference “Central Banks in the 21st Century” organised by the Banco de España Madrid, 8-9 June 2006
7/6/2006
Gertrude Tumpel-Gugerell:  What is the outlook for the Single European Payments Area (SEPA)?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Comments prepared for Eurofi Conference on “Europe’s Retail Financial Services” Brussels, 6-7 June 2006
22/5/2006
Lorenzo Bini Smaghi:  Slides from the presentation at the round table discussion on "Financial education"
Presentation by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB at the OECD Forum 2006 on globalisation in Paris, 22 May 2006
22/5/2006
Otmar Issing:  Globalisation, emu and the euro
Speech by Otmar Issing, Member of the Executive Board of the ECB 34th Economic Conference 2006 on “Globalization: Opportunities and Challenges for the World, Europe and Austria” Vienna, 22 May 2006
8/5/2006
Lorenzo Bini Smaghi:  The Growth of Pension Funds and Financial Markets: Implications for Central Banks
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Dinner speech IMCB conference on “Dealing with the New Giants” Geneva, 4 May 2006
5/5/2006
José Manuel González-Páramo:  The Revised Stability and Growth Pact: is it working?
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB The ECB and its Watchers VIII, Conference jointly organised by the Center for Financial Studies and the European Central Bank Frankfurt, May 5, 2006
5/5/2006
Otmar Issing:  The watchers conference: Theory and practice of monetary policy
Speech by Otmar Issing, Member of the Executive Board of the ECB Conference jointly organised by the Center for Financial Studies and the European Central Bank Frankfurt, 5 May 2006
4/5/2006
José Manuel González-Páramo:  Financial Statistics for a Global Economy
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB at the third European Central Bank Conference on Statistics Frankfurt am Main, 4 May 2006
28/4/2006
Otmar Issing:  Von der Universität zur Notenbank – Marginalien zum Verhältnis von Theorie und Praxis
Rede von Otmar Issing, Mitglied des Direktoriums der EZB Würzburg, 28. April 2006
27/4/2006
Lorenzo Bini Smaghi:  Global imbalances – Global policies
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Inaugural address for the 253rd Academic Year of the Accademia dei Georgofili Salone dei Cinquecento, Palazzo Vecchio Florence, 27 April 2006
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25/4/2006
José Manuel González-Páramo:  Global imbalances and the need for policy adjustment
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Euroconference Miami, 25 April 2006
3/4/2006
Gertrude Tumpel-Gugerell:  Issues related to Central Counterparty Clearing
Opening speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Joint ECB - Federal Reserve Bank of Chicago Conference Frankfurt, 3-4 April 2006
31/3/2006
José Manuel González-Páramo:  The ageing problem: the ECB’s views
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Brussels, 31 March 2006
31/3/2006
Gertrude Tumpel-Gugerell:  The European Central Bank, Italy and the integration of Eastern Europe
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB “Eastern Europe, the EU and Italy” Conference by the Accademia Nazionale dei Lincei and Fondazione Edison Rome, 31 March 2006
24/3/2006
Otmar Issing:  The euro – a currency without a state
Speech by Otmar Issing, Member of the Executive Board of the ECB Helsinki, 24 March 2006
17/3/2006
José Manuel González-Páramo:  Uncertainty and gradualism in monetary policy
Speech by José Manuel González-Páramo Member of the Executive Board and Governing Council of the European Central Bank Universidad Pablo de Olavide Sevilla, 17 March 2006
16/3/2006
Otmar Issing:  Dinner speech. Monetary policy: a journey from theory to practice - an ECB colloquium held in honour of Otmar Issing
Speech by Otmar Issing, Member of the Executive Board of the ECB Frankfurt am Main, 16 March 2006
9/3/2006
Lorenzo Bini Smaghi:  Independence and accountability of supervision in the european financial market
Speech by Lorenzo Bini Smaghi, Member of the Executive Board of the ECB Conference on Financial Regulation and Supervision in Europe Bocconi University, Milan, 9 March 2006
1/3/2006
José Manuel González-Páramo:  The importance of high quality cross-border portfolio investment statistics
Keynote address José Manuel González-Páramo, Member of the Executive Board of the ECB International Conference on the Coordinated Portfolio Investment Survey, Madrid, 1-2 March 2006
24/2/2006
Otmar Issing:  Europe’s Hard Fix: The Euro Area
Speech by Otmar Issing, Member of the Executive Board of the ECB Contribution to Workshop on “Regional and International Currency Arrangements” Vienna, 24 February 2006*
24/2/2006
José Manuel González-Páramo:  Cross-border banking in the EU: developments and emerging policy issues
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Hong Kong, 24 February 2006
23/2/2006
Gertrude Tumpel-Gugerell:  The Lisbon Agenda – what can banks contribute?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB IFB seminar "The Future of Payment Systems in Europe" Lisbon, 23 February 2006
2/2/2006
José Manuel González-Páramo:  Some observations on the measurement of economic phenomena, with special reference to the System of National Accounts
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, at the official dinner of the fourth meeting of the Advisory Expert Group on National Accounts Frankfurt am Main, 2 February 2006
18/1/2006
Otmar Issing:  Communication and transparency – how do central banks meet these demands?
Speech by Otmar Issing, Member of the Executive Board of the ECB Topic of the year 2006, Frankfurt am Main, 18 January 2006
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8/12/2005
Lorenzo Bini Smaghi:  Economic forecasting and monetary policy
Speech by Lorenzo Bini Smaghi Member of the Executive Board of the European Central Bank Keynote speech DIW 1925 – 2005 conference Berlin, 8 December 2005
23/11/2005
Otmar Issing:  Mortgage markets and monetary policy: a central banker’s view
Speech by Otmar Issing, Member of the Executive Board of the ECB, European Mortgage Federation Annual Conference, Brussels, 23 November 2005
21/11/2005
José Manuel González-Páramo:  Los tres pilares del crecimiento europeo
Discurso pronunciado por José Manuel González-Páramo, Miembro del Comité Ejecutivo del BCE, Economist Conferences: 17th Business Roundtable with the Government of Spain Madrid, 21 de noviembre de 2005
15/11/2005
Gertrude Tumpel-Gugerell:  SEPA: making the dream become a reality
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB First EU/US Retail Banking Forum 15 November 2005, Brussels
14/11/2005
Otmar Issing:  The role of fiscal and monetary policies in the stabilisation of the economic cycle
Speech by Otmar Issing, Member of the Executive Board of the ECB International Conference “Stability and Economic Growth: The Role of the Central Bank” Mexico City, 14 November 2005
6/11/2005
Otmar Issing:  Mario Monti. A tribute.
Speech by Otmar Issing, Member of the Executive Board of the ECB 6 November 2005
4/11/2005
Otmar Issing:  Addressing global imbalances: the role of macroeconomic policy
Speech by Otmar Issing, Member of the Executive Board of the ECB Contribution to the Banque de France symposium on 'Productivity, Competitiveness and Globalisation' Paris, 4 November 2005
28/10/2005
Gertrude Tumpel-Gugerell:  Global Financial Markets 2015: looking ahead - Ten theses - Liechtenstein Dialogue, Liechtenstein
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Liechtenstein, 28 October 2005
28/10/2005
Otmar Issing:  The role of money in the monetary policy strategy of the ECB
Speech by Otmar Issing, Member of the Executive Board of the ECB Workshop on “What Central Banks can learn from money and credit aggregates” Eltville, 28 October 2005
21/10/2005
Gertrude Tumpel-Gugerell:  Regulation, Competition and Integration in EU banking: What Drives Performance? - Revisiting Freiburg -
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Albert-Ludwigs University of Freiburg, Faculty of Economics and Behavioural Sciences, Opening of the Integrated Master Programmes of the academic year 2005/2006, Freiburg, 21 October 2005
18/10/2005
José Manuel González-Páramo:  Access to finance and economic development
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB CEF conference Buenos Aires, 18 October 2005
14/10/2005
Gertrude Tumpel-Gugerell:  Single market for financial services – vision or reality?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Luxembourg Financial Market Forum 2005 Europe – United States – Asia Luxembourg, 14 October 2005
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13/10/2005
José Manuel González-Páramo:  The reform of the Stability and Growth Pact: an assessment
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Conference on “New Perspectivas on Fiscal Sustainability” Frankfurt, 13 October 2005
10/10/2005
Lorenzo Bini Smaghi:  Inflation, expectations and current challenges to monetary policy
Speech by Lorenzo Bini Smaghi Member of the Executive Board European Central Bank The European Inflation-Linked Conference 2005 Rome, 10 October 2005
3/10/2005
Gertrude Tumpel-Gugerell:  Keeping up the momentum: achieving the SEPA objectives on time
Gertrude Tumpel-Gugerell Member of the Executive Board of the European Central Bank, Off-site strategy meeting of the Coordination Committee of the European Payments Council, Durbuy, 3 October 2005
30/9/2005
José Manuel González-Páramo:  La reforma de las reglas fiscales de la Unión Monetaria en perspectiva
Discurso pronunciado por José Manuel González-Páramo, Miembro del Comité Ejecutivo del BCE VII Congreso Nacional de Economía, La Coruña, 30 de septiembre de 2005
30/9/2005
Gertrude Tumpel-Gugerell:  Press briefing: Presentation of indicators of financial integration in the euro area
Presentation by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 30 September 2005
19/9/2005
Gertrude Tumpel-Gugerell:  Eröffnung der Ausstellung “Der Blick hinter die Fassaden”
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB OeNB, Wien, 19. September 2005
19/9/2005
José Manuel González-Páramo:  Regional divergence in the euro area
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB, International Conference on “The Role of Government in Regional Economic Development”, rede (Research in Economics, Energy and the Environment), Universidade de Vigo, Baiona, 19 September 2005
14/7/2005
José Manuel González-Páramo:  The outlook for financial stability in the euro area
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Kuala Lumpur, 14 July 2005
13/7/2005
José Manuel González-Páramo:  European Monetary Union. Where do we stand?
Keynote speech given by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank Euro Conference welcome dinner: Expanding ASEAN-EU economic links – the role of the euro Kuala Lumpur, 13 July 2005
23/6/2005
José Manuel González-Páramo:  The European Central Bank’s monetary policy in an international context: principles and challenges
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB University of La Laguna, Tenerife, 23 June 2005
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17/6/2005
Gertrude Tumpel-Gugerell:  Introductory remarks on the euro and European financial integration, at the ECB Workshop “What effects is EMU having on the euro area and its member countries?”
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB 17 June 2005
16/6/2005
Otmar Issing:  European integration – achievements and challenges
Speech by Otmar Issing, Member of the Executive Board of the ECB at the Workshop on “What effects is EMU having on the euro area and its member countries”, 16 June 2005
9/6/2005
Otmar Issing:  The Lisbon process – a view from the ECB
Speech by Otmar Issing, Member of the Executive Board of the ECB, 4th Munich Economic Summit on “Europe and the Lisbon Goals: Are we halfway there?” Munich, 9 June 2005.
3/6/2005
Otmar Issing:  The monetary pillar of the ECB
Speech by Otmar Issing, Member of the Executive Board of the ECB “The ECB and Its Watchers VII” Conference 3 June 2005
31/5/2005
Otmar Issing:  The euro and European financial market integration
Speech by Otmar Issing, Member of the Executive Board of the ECB 8th German Corporate Conference, Deutsche Bank, Frankfurt am Main, 31 May 2005
23/5/2005
José Manuel González-Páramo:  Inflation differentials in the euro area
Speech by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank at Cámara de Comercio, Industria y Navegación de la Región de Murcia Murcia, 23 May 2005
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20/5/2005
Otmar Issing:  One size fits all! A single monetary policy for the euro area
Speech by Otmar Issing, Member of the Executive Board of the ECB International Research Forum, Frankfurt am Main, 20 May 2005.
13/5/2005
José Manuel González-Páramo:  Taxation, tax reform and monetary policy
Speech by José Manuel González-Páramo, Member of the Executive Board of the ECB Universidad Complutense Madrid, 13 May 2005.
6/5/2005
Gertrude Tumpel-Gugerell:  Interchange in a changing market: Observations from the euro area perspective
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB for the conference organised by the Federal Reserve Bank of Kansas City Santa Fe, 6 May 2005
27/4/2005
Otmar Issing:  The enlargement of the EU and the euro zone
Speech by Otmar Issing, Member of the Executive Board of the ECB, at the spring 2005 World Economic Outlook Conference, Frankfurt am Main, 27 April 2005
25/4/2005
Gertrude Tumpel-Gugerell:  The need for regulatory involvement in the evolution of payment systems
Speech by Ms Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at the International Payments Conference 2005, London, 25 April 2005
19/4/2005
Gertrude Tumpel-Gugerell:  The next dimension for EU-China relations
Statement by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Roundtable “Charting China’s impact on the world economy”, Brussels, 19 April 2005
8/4/2005
José Manuel González-Páramo:  La moneda única y sus exigencias: ¿Ha merecido la pena?
Discurso pronunciado por José Manuel González-Páramo, Miembro del Comité Ejecutivo del Banco Central Europeo, Club Prensa Asturiana – Ciencia y Tecnología Gijón, 8 de abril de 2005
11/3/2005
Gertrude Tumpel-Gugerell:  Der Euro und die Währungen der neuen EU-Länder
Dr. Gertrude Tumpel-Gugerell Mitglied des Direktoriums Europäische Zentralbank Oberstdorfer Wirtschaftsforum Oberstdorf, 11. März 2005
9/3/2005
Gertrude Tumpel-Gugerell:  Monetary and Financial Policies in the New Integrated Union
SUERF/UNICREDIT conference ”Governance and structure of European finance after EU enlargement”, speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB
1/3/2005
Gertrude Tumpel-Gugerell:  Integration and efficiency in collateral markets - a central bank perspective
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Euroclear Collateral Solutions Workshop and Conference, Brussels, 1 March 2005.
21/2/2005
José Manuel González-Páramo:  La situación actual de la economía europea
Discurso de José Manuel González-Páramo, Miembro del Comité Ejecutivo y del Consejo de Gobierno del Banco Central Europeo Banco de España Madrid, 21 de febrero de 2005
7/2/2005
José Manuel González-Páramo:  La gestión de las políticas fiscales en el marco de la Unión Económica y Monetaria
Discurso de José Manuel González-Páramo, Miembro del Comité Ejecutivo y del Consejo de Gobierno del Banco Central Europeo. IESE Business School, Madrid, 7 de febrero de 2005
28/1/2005
José Manuel González-Páramo:  Financial integration and economic growth. Lessons from the European experience. Foro Chile – Unión Europea Fundación Euroamérica
Speech by Prof. José Manuel González-Páramo, Executive Board and Governing Council Member EUROPEAN CENTRAL BANK, 28 January 2005
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26/1/2005
Otmar Issing:  Wachstum in Europa – Chancen und Risiken, Topic of the year 2005
Rede von Otmar Issing, Mitglied des Direktoriums der EZB Frankfurt am Main, 26. Januar 2005
20/1/2005
Otmar Issing:  Monetary Policy Implementation: Lessons from the past and challenges ahead. Opening speech at the ECB Workshop
Speech by Otmar Issing, Member of the Executive Board of the ECB, Frankfurt am Main 20 January 2005
20/1/2005
Gertrude Tumpel-Gugerell:  Dinner speech on the Eurosystem’s monetary policy implementation at the ECB Workshop on “Monetary Policy Implementation: lessons from the past and challenges ahead”
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Frankfurt am Main 20 January 2005.
19/1/2005
Otmar Issing:  Die Geldpolitik der EZB im Spannungsfeld globalisierter Finanzmärkte
Hochschule für Bankwirtschaft, Frankfurt am Main Rede von Otmar Issing, Mitglied des Direktoriums der EZB, 19. Januar 2005
10/12/2004
Otmar Issing:  Inflation persistence in the euro area
Otmar Issing, Member of the Executive Board of the ECB Contribution to the ECB conference ‘Inflation persistence in the euro area’ Frankfurt am Main, 10 December 2004
10/12/2004
José Manuel González-Páramo:  The euro: looking back, looking ahead
Speech by Prof. José Manuel González-Páramo, Member of the Executive Board of the European Central Bank, 2nd Annual Euro Fixed Income Market Forum, Paris, 10 December 2004
9/12/2004
José Manuel González-Páramo:  The euro after six years: achievements and challenges ahead
Speech by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank, Universidad Complutense Madrid, 9 November 2004.
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6/12/2004
Gertrude Tumpel-Gugerell:  The Euro – Financial Strength and Weakness from a Global Perspective
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, delivered at the International Chamber of Commerce Houston, 6 December 2004.
3/12/2004
Gertrude Tumpel-Gugerell:  Exchange rate moves in a global economy: a central banking perspective
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Federal Reserve Bank of Philadelphia Philadelphia, 3 December 2004
25/11/2004
Otmar Issing:  Wege zu nachhaltigem Wachstum, Beschäftigung und Stabilität
Rede von Otmar Issing, Mitglied des Direktoriums der EZB Makroökonomischer Kongress Hans Böckler Stiftung und DGB Berlin, 25. November 2004
24/11/2004
Gertrude Tumpel-Gugerell:  Chancengleichheit für Frauen und Männer: Erfolg durch Vielfalt
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Podiumsdiskussion Wien, am 24. November 2004
23/11/2004
Gertrude Tumpel-Gugerell:  Speech at the European Mortgage Federation Annual Conference
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB European Mortgage Federation Annual Conference “Capital Markets and Financial Integration in Europe” Genval, 23 November 2004
12/11/2004
Gertrude Tumpel-Gugerell:  Zusammenfassung des Vortrags vor dem Club der Wirtschaftspublizisten, Wien
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Club der Wirtschaftspublizisten Wien, am 12. November 2004.
11/11/2004
José Manuel González-Páramo:  Fiscal and monetary policy in EMU
Speech by José Manuel González-Páramo, Member of the Executive Board of the European Central Bank 10. Internationales Finanz- und Wirtschaftsforum Vienna, 11 November 2004
10/11/2004
Otmar Issing:  Der Euro – Eine stabile Währung für Europa
Rede von Otmar Issing, Mitglied des Direktoriums der EZB Bayerischen Bankenverband München, 10. November 2004
5/11/2004
Gertrude Tumpel-Gugerell:  Six Years after the Euro: Success and Challenges
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Annual Conference of the Association of Private Client Investment Managers and Stockbrokers (APCIMS), Paris, 5 November 2004
4/11/2004
Gertrude Tumpel-Gugerell:  Die Bedeutung integrierter Finanzräume für die wirtschaftliche Entwicklung
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB Internationale Raiffeisenunion Berlin, 4. November 2004
3/11/2004
Tommaso Padoa-Schioppa:  How to deal with emerging pan-European financial institutions?
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the ECB at the Conference on Supervisory Convergence organised by the Dutch Ministry of Finance The Hague, 3 November 2004.
22/10/2004
Otmar Issing:  EU enlargement and monetary integration
Speech by Otmar Issing, Member of the Executive Board of the ECB Third ECB Central Banking Conference The new EU Member States: convergence and stability Frankfurt am Main, 22 October 2004
21/10/2004
Tommaso Padoa-Schioppa:  Enlargement and “old” Europe: Blow or Blessing?
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the ECB, Frankfurt am Main, 21 October 2004
20/10/2004
Otmar Issing:  ECB Convergence Report 2004 Press Briefing Background Information
Slides from the Presentation by Otmar Issing, Member of the Executive Board of the ECB Frankfurt am Main, 20 October 2004.
18/10/2004
Gertrude Tumpel-Gugerell:  Integration des Europäischen Finanzmarktes und Schaffung eines einheitlichen Zahlungsverkehrsraumes
Vortragsfolien der Präsentation von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Bundesverband Deutscher Banken, Frankfurt, 18. Oktober 2004.
3/10/2004
Otmar Issing:  Outlook for the European Economy
Professor Otmar Issing, Member of the Executive Board of the European Central Bank, The Institute of International Finance, Washington DC, 3 October 2004
29/9/2004
Otmar Issing:  Kommunikation, Transparenz, Rechenschaft - Geldpolitik im 21. Jahrhundert (incl. link to EN version)
Prof. Dr. Dr. h.c. mult. Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank, Thünen-Vorlesung auf der Jahrestagung des Vereins für Socialpolitik am 29. September 2004 in Dresden
28/9/2004
Tommaso Padoa-Schioppa:  The European Union and the Russian Federation: Challenges of market building
Speech by Speech by Tommaso Padoa-Schioppa, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at “Russia in Global Affairs”, Moscow, 28 September 2004
28/9/2004
Otmar Issing:  Contribution to the Roundtable Discussion on ‘Strengthening Economic Governance’ at the Conference on ‘EMU and Economic Governance’ organised by DG ECFIN and GOPA
Speech by Otmar Issing, Member of the Executive Board of the ECB Brussels, 28 September 2004
21/9/2004
Gertrude Tumpel-Gugerell:  Card payments and the European financial integration
Gertrude Tumpel-Gugerell, Member of the Executive Board, European Central Bank, Speech at the EFMA Cards and Payments Conference, Paris on 21 September 2004
6/9/2004
Gertrude Tumpel-Gugerell:  Time to act: clear objectives and a convincing roadmap for the Single Euro Payments Area
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Speech delivered at the Strategy off-site meeting of the Co-ordination Committee of the European Payments Council in Durbuy on 6 September 2004
6/7/2004
Otmar Issing:  Panel on 'Sustained economic growth and central banking'
Speech by Otmar Issing, Member of the Executive Board of the ECB Institute for Monetary and Economic Studies, Bank of Japan Tokyo, 6 July 2004.
26/6/2004
Otmar Issing:  Globalisierung Zerrbild und Wirklichkeit
Professor Dr. Dr. h.c. mult. Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank, Rede anlässlich der Verleihung der Bernhard Harms Medaille am Institut für Weltwirtschaft, Kiel, 26. Juni 2004
23/6/2004
Tommaso Padoa-Schioppa:  Challenges of financial integration in the post-FSAP period
Contribution of Tommaso Padoa-Schioppa, Member of the Executive Board of the ECB to High level panel: "Where next? Discussion on remaining challenges for financial integration" at EC Conference on European financial integration: Progress and prospects, Brussels, 23 June 2004
22/6/2004
Gertrude Tumpel-Gugerell:  Is there consensus on the crisis prevention toolkit?
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB speech at the Conference “60 Years of Bretton-Woods - The Governance of the International Financial System - Looking ahead”, Vienna, 22 June 2004
21/6/2004
Gertrude Tumpel-Gugerell:  Presentation, delivered at the symposium "Zahlungsverkehr in Deutschland im Umfeld europäischer und internationaler Entwicklungen" oganised by the Deutsche Bundesbank in Frankfurt am Main, pdf 320 kB
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB
10/6/2004
Otmar Issing:  On the primacy of price stability
Prager-Frühlings-Vortrag Liberální Institut Professor Otmar Issing, Member of the Executive Board of the European Central Bank Prague, 10 June 2004.
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28/5/2004
Otmar Issing:  The euro and the Lisbon agenda
Speech by Otmar Issing, Member of the Executive Board of the ECB 32nd Economics Conference OeNB Vienna, 28 May 2004.
25/5/2004
Gertrude Tumpel-Gugerell:  Möglichkeiten und Grenzen der Geldpolitik der Europäischen Zentralbank
Dr. Gertrude Tumpel-Gugerell Mitglied des Direktoriums der Europäischen Zentralbank Berlin, 25. Mai 2004.
17/5/2004
Gertrude Tumpel-Gugerell:  Wirtschaftliche Auswirkungen der EU-Erweiterung
Rede von Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der EZB, Österreichischer Sparkassentag 2004 Prag, 17. Mai 2004.
14/5/2004
Gertrude Tumpel-Gugerell:  Five Years of the Euro: Successes and New Challenges
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB Conference organised by the Federal Reserve Bank of Dallas and the University of Texas at Austin on “Five Years of the Euro: Successes and New Challenges”, Dallas, 14 May 2004.
13/5/2004
Tommaso Padoa-Schioppa:  Shaping the payment system: a central bank’s role
Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank delivered at the Bank of Korea’s Conference on Payment Systems Seoul, 13 May 2004
12/5/2004
Otmar Issing:  The ECB and the euro - the first five years
Otmar Issing, Member of the Executive Board of the ECB Mais Lecture City University Business School London, 12 May 2004.
12/5/2004
Otmar Issing:  Summary of “The ECB and the euro - the first five years”
by Professor Otmar Issing, Member of the Executive Board of the European Central Bank Mais lecture, delivered at the Cass Business School, London, 12 May 2004
11/5/2004
Gertrude Tumpel-Gugerell:  Speech at the ECB-CFS Symposium 'The Role of the ECB in Financial Integration'
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, Frankfurt 11 May 2004
11/5/2004
Tommaso Padoa-Schioppa:  Panel Session: Drivers of European Financial Integration - Markets or Policy?
Introductory Remarks by T. Padoa-Schioppa Symposium concluding two years of the ECB-CFS research network on “Capital Markets and Financial Integration in Europe” Frankfurt, 11 May 2004
10/5/2004
Otmar Issing:  Financial Integration, Asset Prices and Monetary Policy
Dinner speech by Professor Otmar Issing, Member of the ECB Executive Board, to be held on Monday, 10 May, at the Hotel “Frankfurter Hof” (Symposium concluding two years of the ECB-CFS research network on “Capital Markets and Financial Integration in Europe”)
23/4/2004
Eugenio Domingo Solans:  Statistics and their use by central banks
Eugenio Domingo Solans, Member of the Executive Board of the ECB, Keynote speech at the 2nd ECB conference on Statistics. Frankfurt am Main, 23 April 2004.
20/4/2004
Tommaso Padoa-Schioppa:  The role of financial markets in sustaining economic growth in Asia
Remarks by Tommaso Padoa-Schioppa, Member of the Executive Board of the ECB, at the Citigroup and Japan Society “Policy and Markets” Program, New York, 20 April 2004.
16/4/2004
Otmar Issing:  Fünf Jahre Euro - Erfahrungen und Erwartungen. Zusammenfassung für die Presse
Rede von Otmar Issing, Mitglied des Direktoriums der EZB Veranstaltung der Stiftung Ordnungspolitik, Freiburg, 16. April 2004
23/3/2004
Gertrude Tumpel-Gugerell:  Enlarged EU - Financial Strength and Weakness from a Global Perspective
Central Bankers' Point of View Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB European Banking & Financial Forum 2004, Prague, 23 March 2004
22/3/2004
Tommaso Padoa-Schioppa:  The evolving European financial landscape: integration and regulation
Speech by by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at Colloquium organised by Groupe Caisse des Dépôts/KfW, Berlin, 22 March 2004.
26/2/2004
Tommaso Padoa-Schioppa:  Building on the euro’s success
Luncheon Speech by Tommaso Padoa-Schioppa, Member of the Governing Council and Executive Board of the European Central Bank, delivered at the Conference: "The Euro at Five: Ready for a Global Role?" organised by the Institute for International Economics, Washington DC, 26 February 2004
20/2/2004
Gertrude Tumpel-Gugerell:  Challenges for central banks in an enlarged European Union and euro area
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board European Central Bank, Conference organised by the ECSA/OeNB on "Challenges for Central Banks in an Enlarged EMU", Vienna, 20 February 2004
10/2/2004
Gertrude Tumpel-Gugerell:  Internationaler Club Frankfurter Wirtschaftsjournalisten
Dr. Gertrude Tumpel-Gugerell Mitglied des Direktoriums Europäische Zentralbank Frankfurt, 10. Februar 2004.
2/2/2004
Tommaso Padoa-Schioppa:  Exchange rate issues relating to the acceding countries
Keynote speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the IMF Conference "Euro Adoption in the Accession Countries, Opportunities and Challenges", Prague, 2 February 2004.
20/1/2004
Otmar Issing:  Testimony before the European Parliament's Committee on Economic and Monetary Affairs
Introductory statement by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Brussels, 20 January 2004.
10/12/2003
Eugenio Domingo Solans:  The importance of MFI interest rates for the Eurosystem and the general public
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board Introductory statement delivered at the inaugural public release of the MFI interest rate statistics European Central Bank, Frankfurt, 10 December 2003.
27/11/2003
Eugenio Domingo Solans:  La experiencia internacional en el manejo de la política monetaria: casos exitosos
Eugenio Domingo Solans, Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo. En representación de Eugenio Domingo Solans la ponencia fue dada por Gabriel Quirós Romero, Asesor del Comité Ejecutivo del Banco Central Europeo. Ponencia presentada al II Congreso Latinoamericano de Tesorería. Cartagena de Indias (Colombia), 27 de noviembre del 2003.
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21/11/2003
Gertrude Tumpel-Gugerell:  ECB-CFS Research Network on 'Capital markets and financial integration in Europe'
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board European Central Bank, at the ECB-CFS workshop policy panel on 'European Securities Settlement Systems' Athens, 21 November 2003
14/11/2003
Gertrude Tumpel-Gugerell:  ECB's monetary policy issues in the run-up to enlargement
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board European Central Bank, E.L.E.C. - Monetary Commission Meeting, 14 November 2003.
13/11/2003
Eugenio Domingo Solans:  The changeover to the euro currency
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Lecture delivered at the Bank of Korea, Seoul, 13 November 2003.
11/11/2003
Gertrude Tumpel-Gugerell:  The role of institutions in the financial system
Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, Panel discussion, Center for Financial Stability, Buenos Aires, 11 November 2003.
3/11/2003
Gertrude Tumpel-Gugerell:  Welcoming the new Member States
Gertrude Tumpel-Gugerell, Member of the Executive Board, European Central Bank, Dinner speech, East-West Conference, 3 November 2003, Oesterreichische Nationalbank, Vienna
3/11/2003
Otmar Issing:  Monetary policy in uncharted territory
Speech by Professor Otmar Issing, Stone Lecture, 3 November 2003, London
28/10/2003
Otmar Issing:  8th Annual ConferenceEurope and the US: Partners and Competitors - New paths for the future
Professor Otmar Issing, Member of the Executive Board of the European Central Bank, German British Forum, London, 28 October 2003.
27/10/2003
Gertrude Tumpel-Gugerell:  The euro in central and eastern Europe
Opening remarks by Ms Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, Panel Discussion Euro Finance Week, 27 October 2003 Deutsche Bank, Frankfurt am Main.
24/10/2003
Eugenio Domingo Solans:  An analysis of the international role of the euro: its impact on economic relations between Asia and Europe
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the Fifth Asia-Europe Young Parliamentarians Meeting organised by the National People's Congress and the Asia-Europe Foundation, Guilin, China, 24 October 2003.
17/10/2003
Otmar Issing:  Panel discussion at the conference "Inflation targeting: prospects and problems"
Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Federal Reserve Bank of St. Louis, St. Louis, 17 October 2003.
17/10/2003
Eugenio Domingo Solans:  Prices, productivity and growth... and money
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Introductory statement at the joint Banco de España, ECB and CEPR Conference on Prices, Productivity and Growth held in Madrid on 17-18 October 2003.
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13/10/2003
Eugenio Domingo Solans:  The enlargement of the EU and the European capital markets
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the 7th Central European Covered Bond Conference Berlin, 13 October 2003.
12/10/2003
Otmar Issing:  Rede aus Anlass der Verleihung des internationalen Preises der Friedrich-August-von-Hayek-Stiftung
Professor Dr. Dr. h.c. mult. Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank Friedrich-August-von-Hayek-Stiftung, 12. Oktober 2003 Berlin
9/10/2003
Eugenio Domingo Solans:  The role of the Eurosystem in financial markets
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at ACI Ireland - The Financial Markets Association Dublin, 9 October 2003.
1/10/2003
Otmar Issing:  Geld Politik für den Euroraum
Professor Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank Jahrestagung des Vereins für Socialpolitik, 1. Oktober 2003 Zürich
16/9/2003
Gertrude Tumpel-Gugerell:  Payments and confidence - the views of the Eurosystem
Opening remarks by Ms Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, at the conference "Payments and Confidence – How to boost security and fight risk"Security of Payments in the Internal Market, in Brussels on 16 September 2003.
5/9/2003
Eugenio Domingo Solans:  European enlargement from the ECB’s perspective
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Closing speech from the conference on “European enlargement: challenges and opportunities”, Universidad del País Vasco, San Sebastián, 5 September 2003.
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29/8/2003
Gertrude Tumpel-Gugerell:  Europa und die USA – Clash of Cultures?
Rede von Dr. Gertrude Tumpel-Gugerell, Mitglied des Direktoriums der Europäischen Zentralbank, Redebeitrag zur Podiumsdiskussion "The Alpbach Economic Symposium" European Forum Alpbach 2003. Alpbach, 29. August 2003
20/8/2003
Eugenio Domingo Solans:  Official Statistics for a Global Economy
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the 54th Session of the International Statistical Institute, Berlin, 20 August 2003. Introduction and overview
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11/7/2003
Otmar Issing:  ECB Watchers Conference: The evaluation of the strategy
Opening remarks Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Frankfurt, 11 July 2003.
7/7/2003
Tommaso Padoa-Schioppa:  Central banks and financial stability
Remarks by T. Padoa-Schioppa, Member of the Executive Board EUROPEAN CENTRAL BANK, Jakarta, 7 July 2003
2/7/2003
Gertrude Tumpel-Gugerell:  The volatility of financial markets
Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the European Central Bank, at the Third Encuentro Financiero Internacional hosted by the Caja Madrid in Madrid on 1 and 2 July 2003
1/7/2003
Tommaso Padoa-Schioppa:  Speech at the Bank of Korea on Regional co-operation: experiences in East Asia and Europe
by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank, Seoul, 1 July 2003.
30/6/2003
Gertrude Tumpel-Gugerell:  Speech in honour ofMr. Alessandro Profumo, Chief Executive Officer of UniCredito Italiano S.p.A., European Banker of the Year 2002
Speech by Ms Gertrude Tumpel-Gugerell, Member of the Executive Board and Governing Council of the European Central Bank, Frankfurt am Main, 30 June 2003.
13/6/2003
Eugenio Domingo Solans:  Why does the structure of the financial system matter?
Speech to be delivered by Eugenio Domingo Solans Member of the Governing Council and of the Executive Board of the European Central Bank Seminar on financial structures sponsored by Caixa Galicia on the occasion of its 25th anniversary Santiago de Compostela 13 June 2003
12/6/2003
Tommaso Padoa-Schioppa:  Opening speech
Opening speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank, at the Committee of Payment and Settlement Systems Conference on Private and Public Sector Challenges in the Payment System Organised by the European Central Bank and the Bank for International Settlements Frankfurt, 12 June 2003..
23/5/2003
Otmar Issing:  Efficiency in financial institutions
Speech by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, at the World Congress of Savings Banks, Madrid, 23 May 2003.
16/5/2003
Eugenio Domingo Solans:  The importance of Eurostat for the monetary policy of the European Central Bank
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the academic meeting on the occasion of the 50th anniversary of the Statistical Office of the European Communities, Luxembourg, 16 May 2003 .
8/5/2003
Eugenio Domingo Solans:  Catalunya dins l'Europa moderna
Eugenio Domingo Solans, Membre del Consell de Govern i del Directori del Banc Central Europeu., Conferència amb motiu de la celebració pel Patronat Català Pro Europa del Dia d'Europa. Palau de la Generalitat, Barcelona, 8 de Maig del 2003
6/5/2003
Otmar Issing:  Die Jahresgutachten des Sachverständigenrates im Spiegel der Politik
Professor Otmar Issing, Mitglied des Direktoriums derEuropäischen ZentralbankSachverständigenrat Berlin 6 May 2003
28/4/2003
Sirkka Hämäläinen:  EU accession – challenges for retail banking
Sirkka Hämäläinen, Member of the Executive Board, Conference on "Retail Financial Services in the New Europe"European Financial Management and Marketing Association, Warsaw, 28 and 29 April 2003.
7/4/2003
Sirkka Hämäläinen:  The euro: making progress
Dr. Sirkka Hämäläinen, Member of the Executive Board, Confederation of Swedish Enterprises, Seminar on the implementation of the euro Stockholm, 7 April 2003
29/3/2003
Otmar Issing:  Monetary and Financial Stability: Is there a Trade-off?
Professor Otmar Issing, Member of the Executive Boardof the European Central BankConference on "Monetary Stability, Financial Stability and theBusiness Cycle"March 28-29, 2003Bank for International Settlements, Basle
27/3/2003
Eugenio Domingo Solans:  The international role of the euro in a globalised economy
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the Pareto Securities Economic Conference, Oslo, 27 March 2003.
24/3/2003
Otmar Issing:  Testimony before the Committee on Economic and Monetary Affairs of the European Parliamentin accordance with Article 113(3) of the Treaty on European Union
Introductory statement by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Brussels, 24 March 2003.
10/3/2003
Eugenio Domingo Solans:  Signature of the Memorandum of Understanding on Economic and Financial Statistics between the ECB (Directorate General Statistics) and the European Commission (Eurostat)
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Introductory statement at the joint Press Conference of the ECB (Directorate General Statistics) and the European Commision (Eurostat), European Commission, Brussels, 10 March 2003.
7/3/2003
Eugenio Domingo Solans:  Economic policy: complementary and reinforcing dimensions
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the Workshop "Outlook on Finance for Competitive Advantage" Villa d'Este, Cernobbio, 7 March 2003.
28/2/2003
Otmar Issing:  Considerations on monetary policy strategies for accession countries
Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Budapest, National Bank of Hungary, 28 February 2003
27/2/2003
Otmar Issing:  The euro - a stable international currency
Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Budapest, Academy of Sciences, 27 February 2003
13/2/2003
Eugenio Domingo Solans:  Financial innovation and monetary policy
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the 38th SEACEN Governors Conference and 22nd Meeting of the SEACEN Board of Governors on "Structural Change and Growth Prospects in Asia - Challenges to Central Banking", Manila, 13 February 2003.
14/1/2003
Sirkka Hämäläinen:  How the European Central Bank manages the euro and what is in store for 2003
Dr. Sirkka Hämäläinen, Member of the Executive Board, Event hosted by the American Business Forum on Europe, New York, 14 January 2003.
13/1/2003
Otmar Issing:  Topic of the Year
Professor Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank, Closing address at the "Topic of the Year" organised by the Group of 20 + 1 in Frankfurt, Frankfurt am Main, 13 January 2003
16/12/2002
Eugenio Domingo Solans:  Macroeconomic stability and growth in the European Monetary Union
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at The Economist Conference: Portugal and the European Union, Lisbon, 16 December 2002.
9/12/2002
Eugenio Domingo Solans:  The relevance of financial sector developments for accession countries
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at The Economist Conferences - 3rd Cyprus Summit on "Countdown to European Accession", Nicosia, 9 December 2002.
9/12/2002
Otmar Issing:  Monetary policy in a world of uncertainty
Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Economic Policy Forum Fondation Banque de France Centre d'Etudes Prospectives et d'Informations Internationales CEPII Université Aix-Marseille IDEP, Paris, 9 December 2002
5/12/2002
Otmar Issing:  Why stable prices and stable markets are important and how they fit together
Professor Otmar Issing, First Conference of the Monetary Stability Foundation, 5 December 2002, Frankfurt/Main
2/12/2002
Otmar Issing:  The euro after four years: is there a risk of deflation?
Professor Otmar Issing, 16th European Finance Convention, 2 December 2002, London
27/11/2002
Sirkka Hämäläinen:  Reflection on euro area membership
Dr. Sirkka Hämäläinen Member of the Executive Board, Swedish Chamber of Commerce in Germany, Conference on "Sweden, EMU and the euro", Frankfurt am Main, 27 November 2002
22/11/2002
Eugenio Domingo Solans:  Some thoughts on the performance of the ECB
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the Deutsch-Spanische Gesellschaft, Stuttgart, 22 November 2002
22/11/2002
Tommaso Padoa-Schioppa:  International currencies: where does the euro stand?
Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank, Frankfurt European Banking Congress 2002, 22 November 2002.
18/11/2002
Sirkka Hämäläinen:  The role of monetary policy and the central banks in global financial stability
Dr. Sirkka Hämäläinen Member of the Executive Board Session on "The future of the international financial structure", 8th European Forum, BMW Stiftung Herbert Quandt, Berlin, 16 November 2002
13/11/2002
Sirkka Hämäläinen:  "The euro - a world currency"
Dr. Sirkka Hämäläinen, Member of the Executive Board, The Hochschule für Bankwirtschaft, Frankfurt am Main, 13 November 2002
11/11/2002
Eugenio Domingo Solans:  The euro: a driving force in a globalised financial system
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Official Spanish-Swiss Chamber of Commerce, Zurich, 11 November 2002
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4/11/2002
Tommaso Padoa-Schioppa:  Trajectories towards the euro and the role of ERM II
Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank, at the 2002 East-West Conference 'Structural challenges and the search for an adequate policy mix in the EU and in central and eastern Europe', Vienna, 4 November 2002.
25/10/2002
Otmar Issing:  Second ECB Central Banking Conference 24-25 October 2002, Frankfurt am Main
Relationship lending in the euro area Prof. Otmar Issing's Dinner Speech at the Second ECB Central Banking Conference "The transformation of the European Financial System" 24 October 2002
17/9/2002
Eugenio Domingo Solans:  European financial integration and stability
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the conference organised by the Association of Foreign Bank Representatives in Germany, Frankfurt am Main, 17 September 2002.
30/8/2002
Otmar Issing:  Monetary Policy in a Changing Economic Environment
Professor Otmar Issing, Symposium "Rethinking Stabilisation Policy", Jackson Hole, 30 August 2002
10/7/2002
Tommaso Padoa-Schioppa:  Public hearing on "After Enron: financial supervision in Europe" at theCommittee on Economic and Monetary Affairs of the European Parliament
Statement on "EU structures for financial regulation, supervision and stability"by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central BankBrussels, 10 July 2002
5/7/2002
Otmar Issing:  Some reflections on handling monetary policy in a global environment
Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, International Research Forum on Monetary Policy, Frankfurt, 5 July 2002.
29/6/2002
Tommaso Padoa-Schioppa:  "The Euro Goes East"
Lecture by Professor Tommaso Padoa-Schioppa, Member of the Executive Board of the ECB 8th Dubrovnik Economic Conference, 29 June 2002
11/6/2002
Eugenio Domingo Solans:  Exchange rate policies in the accession process
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the conference on "Alternative Exchange Rate Regimes in the Globalised World" marking the 10th anniversary of the Currency Board in Estonia, Tallinn, 11 June 2002.
10/6/2002
Otmar Issing:  ECB Watchers conference: monetary policy and the role of the price stability definition
Panel speech by Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Milan, 10 June 2002.
30/5/2002
Sirkka Hämäläinen:  The role of the euro in global capital markets
Ms Sirkka Hämäläinen, Member of the Executive Board The sixth European Financial Markets Convention 2002, Flanders European Conference Centre, Brussels, 30 May 2002.
24/5/2002
Eugenio Domingo Solans:  Monetary integration in Europe: some past and present experiences
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, at the Madrid Seminar of the Eurosystem and Latin American Central Banks, Madrid, 24 May 2002.
20/5/2002
Tommaso Padoa-Schioppa:  Self vs. public discipline in the financial field
Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank
30/4/2002
Sirkka Hämäläinen:  Consolidation in the European securities infrastructure - what is needed?
Sirkka Hämäläinen, Launch of the ECB-CFS research network on "Capital markets and financial integration in Europe", Frankfurt am Main, 30 April 2002
29/4/2002
Otmar Issing:  Monetary policy in an environment of global financial markets
Professor Otmar Issing, Launching Workshop of the ECB-CFS Research Network on "Capital Markets and Financial Integration in Europe", Frankfurt am Main, 29 April 2002
29/4/2002
Tommaso Padoa-Schioppa:  Competition, co-operation, public action: Three necessary drivers for European financial integration
Tommaso Padoa-Schioppa, dinner speech for the launching workshop of the ECB-CFS research network on "Capital markets and financial integration in Europe", Frankfurt am Main, 29 April 2002
12/4/2002
Eugenio Domingo Solans:  The new challenges for the European banking system
Speech by Gabriel Quirós on behalf of Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank, at a seminar organised by Ambrosetti and Getronics, Vienna, 12 April 2002.
26/3/2002
Otmar Issing:  The role of monetary policy in managing economic risks.
Speech by Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, "U.S. Policy in an Uncertain Global Economy" 18th Annual Conference of the National Association for Business Economics, Washington, D.C., 26 March 2002.
26/3/2002
Sirkka Hämäläinen:  Implementing monetary policy in the euro area
Ms Sirkka Hämäläinen, Member of the Executive Board European Credit Expansion Forum: New Currents in Financing Marriott Hotel, Frankfurt 26 March 2002.
22/3/2002
Tommaso Padoa-Schioppa:  Accession Countries on the Way to the Euro: A Central Banker's View,
Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank, Conference on "Economic Policy Directions in the OECD Countries and Emerging Markets: Analysing the Experiences", Warsaw, 21 March 2002.
20/3/2002
Otmar Issing:  Testimony before the Committee on Economic and Monetary Affairs of the European Parliament
Introductory statement by Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Brussels, 20 March 2002.
20/3/2002
Sirkka Hämäläinen:  Integrating Europe's Financial Markets
Speech delivered by Dr Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the European Asset Management Conference, CongressCenter Messe, Frankfurt am Main, 20 March 2002.
9/3/2002
Eugenio Domingo Solans:  European financial integration and the international role of the euro
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), speech delivered at the Global Economic Summit IV, organised by NAMM, Estepona (Spain), 9 March 2002.
8/3/2002
Tommaso Padoa-Schioppa:  Reflections on recent financial incidents
by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Third Joint Central Bank Research Conference on Risk Measurement and Systemic Risk, Basel, 8 March 2002.
28/2/2002
Eugenio Domingo Solans:  A farewell to the peseta
Speech by Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, delivered at the Conference organised by the Colegio de Economistas de Madrid, Casino de Madrid, 28 February 2002.
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25/2/2002
Sirkka Hämäläinen:  The euro as a monetary, financial, economic and political innovation
Ms Sirkka Hämäläinen, Member of the Executive Board Sixth European Economic and Monetary Union Conference, Chatham House, organised by the Royal Institute of International Affairs, London, 25 February 2002.
22/2/2002
Tommaso Padoa-Schioppa:  Remarks at the roundtable: Mid-term review of progress towards European financial integration
T. Padoa-Schioppa, Member of the Executive Board of the European Central Bank, Brussels, 22 February 2002
21/2/2002
Tommaso Padoa-Schioppa:  Securities and banking: bridges and walls
London School of Economics: Securities and banking: bridges and wallsLecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank
12/2/2002
Eugenio Domingo Solans:  Primeras impresiones de la entrada en vigor del euro: impacto en los mercados financieros y en el sistema bancario
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Intervención en el Foro Financiero 2002 de ABC, Madrid, 11 de febrero del 2002.
24/1/2002
Eugenio Domingo Solans:  The culmination of European Monetary Union
Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), speech delivered at the conference held in the Club Siglo XXI, Madrid, 24 January 2002.
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21/1/2002
Tommaso Padoa-Schioppa:  Securities and banking: bridges and walls
London School of Economics: Securities and banking: bridges and walls, Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank
5/12/2001
Eugenio Domingo Solans:  The "Psychology" of the European Currency, as viewed by the European Central Bank
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), Speech delivered at the Symposium "The Psychology of the European Currency", organised by the Dresdner Bank, Frankfurt, 5 December 2001.
29/11/2001
Eugenio Domingo Solans:  Some remarks on the future of the euro
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), Speech delivered at the 7th Financial and Economic Forum, Vienna, 29 November 2001.
22/11/2001
Eugenio Domingo Solans:  Balance of payments seminar with accession countries
Welcoming speech by Eugenio Domingo Solans (ECB), Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), 22 November 2001.
19/11/2001
Eugenio Domingo Solans:  NETDAYS launch
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), Speech delivered at the Chapelle des Brigittines, Brussels, 19 November 2001.
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16/11/2001
Otmar Issing:  The relevance of reliable statistical systems for monetary policy making in the euro area
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank CEPR/ECB Workshop on issues in the measurement of price indices, Frankfurt am Main, 16 November 2001
16/11/2001
Eugenio Domingo Solans:  Issues concerning the use and measurement of the HICP
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), Speech delivered at the CEPR/ECB Workshop on Issues in the Measurement of Price Indices, Frankfurt, 16 November 2001
26/10/2001
Tommaso Padoa-Schioppa:  12 settembre: Il mondo non e' al punto zero
Lezione di Tommaso Padoa-Schioppa Università di Padova 26 Ottobre 2001
17/10/2001
Otmar Issing:  The challenge for monetary policy: a European perspective
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank German British Forum, London, 17 October 2001
16/10/2001
Eugenio Domingo Solans:  Challenges to economic statistics in a united Europe
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank, Speech delivered at the "2001 Days of Official Statistics" conference, Vienna, 16 October 2001.
16/10/2001
Sirkka Hämäläinen:  Integration of the euro area financial markets
Speech delivered by Dr. Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, ACI, Dublin, 15 October 2001.
9/10/2001
Eugenio Domingo Solans:  Practical aspects of the introduction of the euro
Prof. Eugenio Domingo Solans, Member of the Governing Council and of the Executive Board of the European Central Bank (ECB), Speech delivered at the European Parliamentary Financial Services Forum, Brussels, 9 October 2001.
5/10/2001
Sirkka Hämäläinen:  The euro and the global economy
Speech delivered by Dr. Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, 12th Wirtschaftssymposium, "Global Business - Redefining the Challenge", 5 October 2001European Business School, Oestrich-Winkel
24/9/2001
Tommaso Padoa-Schioppa:  Towards a single payment area
Keynote address of Mr. Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the EU Commission conference Payments in euro in the Internal Market Brussels, 24 September 2001
18/9/2001
Eugenio Domingo Solans:  Putting euro banknotes and coins into circulation
Prof. Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank.Speech delivered at the Euro 2002 Information Campaign conference, hosted by Banca d'Italia. Rome, 18 September 2001.
14/9/2001
Sirkka Hämäläinen:  The ECB's monetary policy – accountability, transparency and communication
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, Old Age, New Economy and Central Banking Conference, organised by CEPR/ESI and Suomen Pankki, 14 September 2001, Helsinki.
5/9/2001
Tommaso Padoa-Schioppa:  Clearing and settlement of securities: a European perspective
Speech of Mr. Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Symposium of the Deutsche Bundesbank Payment and Securities Settlement Systems in Germany against the Background of European and International Developments Frankfurt am Main, 5 September 2001
30/8/2001
Eugenio Domingo Solans:  ECB Press conference on the occasion of the unveiling of the euro banknotes and their security features, Frankfurt am Main, 30 August 2001
Transcript of the questions asked and the answers given by Dr. Willem F. Duisenberg, President of the ECB, and Prof. Dr. Eugenio Domingo Solans, Member of the Executive Board of the ECB
30/8/2001
Eugenio Domingo Solans:  Press conference on the occasion of the unveiling of the euro banknotes and their security features. Presentation of the mass media campaign including a brief overview of the Euro 2002 Information Campaign
by Professor Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank, Frankfurt, 30 August 2001
30/8/2001
Eugenio Domingo Solans:  Press conference on the occasion of the unveiling of the euro banknotes and their security features. Introductory remarks on the euro banknotes and their security features
by Professor Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank, Frankfurt, 30 August 2001
9/7/2001
Eugenio Domingo Solans:  Europa y la nueva economía
Eugenio Domingo SolansMiembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Conferencia inaugural del Curso de Verano "Comunicación y empresa en la era digital", organizado por la Fundación General de la Universidad Complutense. San Lorenzo de El Escorial, 9 de julio del 2001. Introducción
29/6/2001
Otmar Issing:  Konferenz der Euro-2002-Informationskampagne
der EURO. UNSER Geld Rede von Professor Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank, anlässlich der von der Oesterreichischen Nationalbank veranstalteten Konferenz, am 29. Juni 2001 im Palais Ferstel in Wien
28/6/2001
Otmar Issing:  Liberaler Kapitalismus und Soziale Marktwirtschaft
Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Wirtschaftstag "Streit der Ordnungssysteme - New Economy, Soziale Marktwirtschaft, Staatlicher Dirigismus", Berlin, 28. Juni 2001 Liberaler Kapitalismus versus Soziale Marktwirtschaft?
18/6/2001
Otmar Issing:  Monetary policy and financial markets
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at ECB Watchers Conference, Frankfurt am Main, 18 June 2001
8/6/2001
Eugenio Domingo Solans:  Financial markets in the European Monetary Union
Prof. Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank. Speech delivered at the 28th Annual Financial Markets Seminar, Valencia, 8 June 2001.
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15/5/2001
Eugenio Domingo Solans:  Putting euro banknotes and coins into circulation
Prof. Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank. Speech delivered at the Euro 2002 Information Campaign conference, hosted by the Banco de Portugal. Lisbon, 15 May 2001.
11/5/2001
Otmar Issing:  "The European Monetary Union in a globalised world"
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at Second Vienna Globalization Symposium Institut für den Donauraum und Mitteleuropa Wirtschaftskammer Österreich Wien, 11. Mai 2001
3/5/2001
Otmar Issing:  The euro and the ECB Successful start - challenges ahead
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at Market News Seminar, London, 3 May 2001
4/4/2001
Eugenio Domingo Solans:  La puesta en circulación de los billetes y monedas en euros
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Intervención en la Conferencia "Campaña de Información Euro 2002". Banco de España, Madrid, 4 de abril de 2001.
2/4/2001
Tommaso Padoa-Schioppa:  Consolidation of the payment systems industry: the Eurosystem's perspective
Keynote address given by Mr. Tommaso Padoa-Schioppa during the International Payment Systems Week 2001 London, 2 April 2001
26/3/2001
Eugenio Domingo Solans:  Europa y la nueva economía
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo Conferencia inaugural del curso "Comunicación y empresa en la era digital", organizado por la Fundación General de la Universidad de Málaga. Málaga, 26 de marzo de 2001. Introducción
17/3/2001
Tommaso Padoa-Schioppa:  La competitività dell'Italia
Intervento di Tommaso Padoa-Schioppa al convegno della Piccola Industria "Saper crescere, Poter crescere" Parma, 17 marzo 2001
8/3/2001
Eugenio Domingo Solans:  La inflación, una variable clave para la política monetaria del BCE
Eugenio Domingo Solans, Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Intervención en el Seminario Internacional sobre "La Inflación: Indicador Clave para la Política Económica", organizado por el Instituto de Crédito Oficial, Madrid, 8 de marzo de 2001.
26/2/2001
Eugenio Domingo Solans:  The euro and the Eurosystem - some issues of interest for the Swedish public
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at Swedbank, Stockholm, 26 February 2001.
23/2/2001
Otmar Issing:  Economic and Monetary Union in Europe: political priority versus economic integration?
By Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Paper for the Conference 2001 of the European Society for the History of Economic Thought
21/2/2001
Otmar Issing:  The euro - a stable currency for Europe
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at Euromoney Institutional Investor Plc
12/2/2001
Sirkka Hämäläinen:  The euro and European integration
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, The Finnish Culture Institute, Stockholm, 12 February 2001
29/1/2001
Sirkka Hämäläinen:  Is the New Economy really new?
Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, Jaakko Honko Lecture, Helsinki School of Economics, 29 January 2001
24/1/2001
Otmar Issing:  Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Opening remarks by Professor Otmar Issing Member of the Executive Board of the European Central Bank Brussels, 24 January 2001
21/12/2000
Tommaso Padoa-Schioppa:  High-level seminar with the EU-candidate countries
Remarks delivered by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, Paris, 21 December 2000
11/12/2000
Eugenio Domingo Solans:  Preparing the next steps until 2002: Introduction of the euro banknotes and coins
Speech delivered by Eugenio Domingo Solans Member of the Governing Council and the Executive Board of the European Central Bank at the conference organised by EFMA on "2002: The euro in circulation". Brussels, 11 December 2000.
1/12/2000
Eugenio Domingo Solans:  Monetary policy under inflation targeting
Contribution presented by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at the Fourth Annual Conference of Banco Central de Chile, Santiago de Chile, 1 December 2000.
1/12/2000
Otmar Issing:  Europe's challenges after the establishment of Monetary Union: a central banker's view
Speech by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, at CES-IFO Conference on Issues of Monetary Integration in Europe, Munich, 1 December 2000
23/11/2000
Sirkka Hämäläinen:  The ECB, the euro and the integration of financial and mortgage markets
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the 14th Annual Convention of the European Finance Convention Foundation, Paris, 23 November 2000
15/11/2000
Eugenio Domingo Solans:  Intervención en la celebración del 50 aniversario de la banca central en Cuba
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, La Habana, 15 de noviembre de 2000.
9/11/2000
Tommaso Padoa-Schioppa:  Domestic payments in Euroland: commercial and central bank money
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the European Commission Round-Table "Establishing a Single Payment Area: State of Play and Next Steps", Brussels, 9 November 2000
9/11/2000
Sirkka Hämäläinen:  Structural developments of the European financial markets: The role of the euro
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the International Financial and Economic Forum, Vienna, 9 November 2000
7/11/2000
Otmar Issing:  The New Economy - a European view
Speech by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, National Conference CBI 2000, Birmingham, 7 November 2000
26/10/2000
Otmar Issing:  Should we have faith in central banks?
Speech by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, St. Edmund's College Millennium Year Lecture, Cambridge, 26 October 2000
26/10/2000
Eugenio Domingo Solans:  La política monetaria europea y el Banco Central Europeo
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, conferencia pronunciada en la Real Academia de Ciencias Morales y Políticas, Madrid, 26 October 2000
16/10/2000
Sirkka Hämäläinen:  The single currency and European integration
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the Seminar "EMU Experience and Prospects - A Small State Perspective", Institute of European Affairs, Dublin, 16 October 2000
7/10/2000
Sirkka Hämäläinen:  What are the benefits of the single currency for competition and growth in the euro area?
Ms Sirkka Hämäläinen, Fall Meeting of the German-Finnish Chamber of Commerce, Hannover, 7 October 2000
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29/9/2000
Otmar Issing:  Monetary policy in a new environment
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at Bundesbank - BIS Conference, Frankfurt am Main, 29 September 2000 The new monetary policy environment
23/9/2000
Otmar Issing:  How to maintain growth in the euro area?
Contribution by Professor Otmar Issing, Member of the Executive Board of the European Central Bank, Annual Markets Conference organised by Deutsche Bank, Prague/Czech Republic, 23 September 2000
22/9/2000
Sirkka Hämäläinen:  Risk management in the global economy - the role of the ECB
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the Symposium on Risk Management in the Global Economy: Measurement, Management and Macroeconomic Implications, Chicago, 21 September 2000
20/9/2000
Eugenio Domingo Solans:  Integrated European financial markets in a globalised economy
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank at the Euromoney Conference on "German Financial Markets: Gearing up for Global Competition", Frankfurt am Main, 20 September 2000.
18/9/2000
Sirkka Hämäläinen:  The euro and the dollar - new imperatives for policy co-ordination
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at conference "Transatlantic Financial Policy Co-ordination in an Age of Global Capital Markets", at the European Institute, New York, 18 September 2000
15/9/2000
Sirkka Hämäläinen:  The ECB's monetary policy - decision-making and implementation
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at Euro-conference held at the Danish Parliament, Copenhagen, 15 September 2000
12/9/2000
Otmar Issing:  The globalisation of financial markets
Professor Otmar Issing, 12 September 2000, Ottobeuren
12/9/2000
Eugenio Domingo Solans:  Parameters of the eurosystem's monetary policy
Keynote address delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank at the British Businessmen's Club, Düsseldorf, 12 September 2000
8/9/2000
Sirkka Hämäläinen:  The single monetary policy - formulation, implementation and communication
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the 32nd Annual Conference of the Money, Macro and Finance Research Group, South Bank University, London, 8 September 2000
26/8/2000
Eugenio Domingo Solans:  How should monetary policy makers respond to the new challenges of global economic integration?
Speech delivered by Professor Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank, contribution presented at the Symposium on "Global Economic Integration: Opportunities and Challenges", sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, 26 August 2000.
28/6/2000
Otmar Issing:  New Technologies in Payments: A Challenge to Monetary Policy
Professor Otmar IssingLecture to be delivered at the Center for Financial Studies Frankfurt am Main 28 June 2000
26/6/2000
Otmar Issing:  Communication challenges for the ECB
Opening statement delivered by Professor Otmar Issing, Member of the Executive Board of the European Central Bank at the CFS research conference "The ECB and its watchers II". Panel II: "The ECB and Its Communication Strategy", Frankfurt, 26 June 2000
5/6/2000
Eugenio Domingo Solans:  Introductory statement at a Hearing before the Committee on Economic and Monetary Affairs of the European Parliament, on the Euro 2002 Information Campaign on euro banknotes and coins
Professor Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank, Brussels, 5 June 2000
19/5/2000
Eugenio Domingo Solans:  Precios de los activos y política monetaria
Eugenio Domingo Solans, Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Intervención en el Desayuno de Trabajo de la Confederación Española de Directivos y Ejecutivos (CEDE), Madrid, 19 de mayo de 2000.
18/5/2000
Otmar Issing:  "Der Euro-Kapitalmarkt: Status Quo und Perspektiven"
Prof. Otmar Issing, Symposium zum Thema "Pfandbrief und Kapitalmarkt" am 18. Mai 2000 in Frankfurt/Main
12/5/2000
Otmar Issing:  How to promote growth in the euro area: the contribution of monetary policy
Professor Otmar Issing, Member of the Executive Boardof the European Central BankConference of the National Bank of Belgium
5/5/2000
Sirkka Hämäläinen:  Conference on the Operational Framework of the Eurosystem and the Financial Markets
The operational framework of the Eurosystem. Welcome address delivered by Ms Sirkka Hämäläinen Member of the Executive Board of the European Central Bank, Frankfurt, 5-6 May 2000
5/5/2000
Otmar Issing:  How to achieve a durable macro-economic policy mix favourable to growth and employment?
Speech by Professor Otmar Issing, Member of the Executive Board of the European Central Bank. Contribution to the conference on "Growth and Employment in EMU" organised by the European Commission, Brussels Economic Forum, Brussels, 4 and 5 May 2000
29/4/2000
Tommaso Padoa-Schioppa:  Is a euroland banking system already emerging?
Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at Société Universitaire Européenne de Recherches Financières - SUERF Vienna 29 April 2000
7/4/2000
Tommaso Padoa-Schioppa:  Competition among Banks: good or bad?
Dinner speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Center for Financial Studies - CFS Frankfurt 7 April 2000
5/4/2000
Sirkka Hämäläinen:  The euro - experiences and prospects
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, Eurozone Factor: Mind the Gap - The Euro Capital Markets Forum, Paris, 5 April 2000
23/3/2000
Otmar Issing:  Die Geldpolitik der Europäischen Zentralbank
Vortrag von Professor Dr. Dr. h.c. mult. Otmar Issing, Mitglied des Direktoriums der Europäischen Zentralbank, 3. Wirtschaftspolitisches Symposium, Herbert Giersch Stiftung, Frankfurt am Main, 23. März 2000
17/3/2000
Otmar Issing:  Walter Eucken: vom Primat der Währungspolitik
Vortrag von Professor Dr. Dr. h.c. mult. Otmar Issing Mitglied des Direktoriums der Europäischen Zentralbank Walter-Eucken-Institut, Freiburg, 17. März 2000
17/3/2000
Sirkka Hämäläinen:  Euro, European Integration and the world economy
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, Turku School of Economics and Business Administration, 50th Anniversary, Turku, 17 March 2000
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8/3/2000
Tommaso Padoa-Schioppa:  An institutional glossary of the Eurosystem
Article by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the conference on "The Constitution of the Eurosystem: the Views of the EP and the ECB", 8 March 2000
10/2/2000
Tommaso Padoa-Schioppa:  The Eurosystem and financial stability
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Belgian Financial Forum, Brussels, 10 February 2000
8/2/2000
Otmar Issing:  European integration at the beginning of the new millennium
Excerpts from lecture given by Professor Otmar Issing, member of the Executive Board of the European Central Bank, at the Forum Dialogue organised by the Banque central du Luxembourg on 8 February 2000 Europe at the turn of the millennium
26/1/2000
Otmar Issing:  The euro area - first experience and perspectives
by Professor Otmar Issing, Member of The Executive Board of the European Central Bank, at The Morgan Stanley Dean Witter Conference "Germany - Structural Revolution", on 26 January 2000 in Berlin
10/1/2000
Otmar Issing:  Opening Remarks at a Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
Professor Otmar Issing, Member of the Executive Board of the European Central Bank, on 10 January 2000 in Brussels
8/1/2000
Sirkka Hämäläinen:  One year with the euro
Speech delivered by Dr Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, Europäisches Wochenende Berlin 2000, Berlin, 8 January 2000
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3/12/1999
Sirkka Hämäläinen:  The single monetary policy: the role of transparency and openness
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the Citizens' Agenda 2000 NGO Forum on 3 December 1999 in Tampere
3/12/1999
Sirkka Hämäläinen:  Yhteinen rahapolitiikka ja avoimuuden merkitys
Euroopan keskuspankin (EKP) johtokunnan jäsenen Sirkka Hämäläisen puhe Citizens' Agenda 2000 NGO Forum -kansalaistapahtumassa Tampereella 3. joulukuuta 1999
3/12/1999
Otmar Issing:  The monetary policy of the ECB in a world of uncertainty
Speech held by Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Contribution to the policy panel at the conference on "Monetary policy-making under uncertainty" organised by the European Central Bank and the Center for Financial Studies, 3-4 December 1999, Frankfurt am Main
19/11/1999
Tommaso Padoa-Schioppa:  Moneta, Commercio, Istituzioni: esperienze e prospettive della costruzione europea
Lectio Doctoralis di Tommaso Padoa-Schioppa Per il conferimento della Laurea Honoris Causa in Economia Internazionale del Commercio e dei Mercati Valutari Trieste, 19 novembre 1999
19/11/1999
Sirkka Hämäläinen:  The Eurosystem and the implementation of monetary policy
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the XVIII Sessiones de Trabajo de Tesoreria organised by the Caja de Ahorros de Navarra, Pamplona, on 19 November 1999
16/11/1999
Eugenio Domingo Solans:  The euro as a new international currency
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at the luncheon conference organised by the World Affairs Council and The European Institute at the Rittenhouse Hotel Philadelphia, 16 November 1999
15/11/1999
Eugenio Domingo Solans:  The euro as a new international currency
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at the Boston Federal Reserve Bank, Boston, 15 November 1999
15/11/1999
Eugenio Domingo Solans:  The euro and the activities of the European Central Bank
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at the luncheon conference organised by the Money Matters Institute and The European Institute at the Boston Harbor Hotel, Boston, 15 November 1999
12/11/1999
Tommaso Padoa-Schioppa:  ECB press conference following the Helsinki seminar on the EU accession process
With a transcript of the questions asked and the answers given by Mr. Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, and Mr. Esko Ollila, Deputy Governor of the Bank of Finland, Helsinki, 12 November 1999
11/11/1999
Otmar Issing:  The ECB's monetary policy in the context of globalisation
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at the conference "Weltachsen", organised by the Center for European Integration Studies, the Center for Development Research and federal city of Bonn, Bonn, 11 November 1999
5/11/1999
Sirkka Hämäläinen:  Possible effects of EMU on the EU banking systems in the medium and long term
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the General Assembly of the European Mortgage Federation, Brussels, on 5 November 1999
25/10/1999
Otmar Issing:  The monetary policy of the ECB: stability, transparency, accountability
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at the Royal Institute of International Affairs, London, 25 October 1999
9/10/1999
Sirkka Hämäläinen:  European integration and the financial environment - reflections after nine months with the euro
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, on the 40th Anniversary of the ACI Austria, Vienna, 9 October 1999
28/9/1999
Sirkka Hämäläinen:  The euro - nine months with Europe's new currency
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at an event organised by the European Union Chamber of Commerce in Toronto (EUCOCIT) and the Embassy of Finland, Toronto, 28 September 1999
25/9/1999
Eugenio Domingo Solans:  Un balance de la actuación del Banco Central Europeo
Eugenio Domingo Solans, Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo, Conferencia de clausura del X Congreso AECA sobre "La Empresa Española ante el Siglo XXI" Zaragoza, 25 de septiembre de 1999.
24/9/1999
Tommaso Padoa-Schioppa:  Licensing banks: still necessary?
Lecture by Tommaso Padoa-SchioppaMember of the Executive Board of the European Central BankWashington D.C., 24 September 1999
24/9/1999
Eugenio Domingo Solans:  La revolución tecnológica y la actividad del BCE
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo Conferencia de clausura de las I Jornadas organizadas por El nuevo lunes sobre "El impacto de la revolución tecnológica en el sistema financiero español" Madrid, 24 de septiembre de 1999.
20/9/1999
Otmar Issing:  Europe: common money - political union?
Otmar Issing Member of the Executive Board of the European Central Bank, 'FAZ lecture' delivered on 20 September 1999 in German in Frankfurt, on the occasion of the 50th Anniversary of Frankfurter Allgemeine Zeitung
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18/9/1999
Eugenio Domingo Solans:  The euro as an international currency
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at The Athens Summit '99, in Athens on 18 September 1999
13/9/1999
Tommaso Padoa-Schioppa:  Payments and the Eurosystem
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, Sibos, Munich, 13 September 1999
10/9/1999
Eugenio Domingo Solans:  Euro and European integration
Speech delivered by Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, at the "Euro and Denmark" exhibition in Aalborg, Denmark, on 10 September 1999
21/8/1999
Sirkka Hämäläinen:  The euro: experience to date and future prospects
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at Nordic Forex '99, Helsinki, 21 August 1999
23/7/1999
Eugenio Domingo Solans:  El BCE. Un nuevo Banco central para España
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo Conferencia de clausura del curso sobre "Economía y Sociedad Española a Finales del Siglo XX" de la Universidad Internacional Menéndez y Pelayo. La Coruña, 23 de julio de 1999.
2/7/1999
Eugenio Domingo Solans:  The monetary policy of the Eurosystem
Main remarks of the speech delivered by Eugenio Domingo Solans Member of the Governing Council and the Executive Board of the European Central Bank at the SOCIETAT CATALANA D'ECONOMIA (Institut d'Estudis Catalans) Barcelona, 2 July 1999
2/7/1999
Sirkka Hämäläinen:  The first six months of European Economic and Monetary Union
Speech delivered by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the ACI's World Forex International Congress and General Assembly Milan, 2 July 1999
30/6/1999
Tommaso Padoa-Schioppa:  Reflections on the globalisation and europeanisation of the economy
Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, University of Göttingen, Center for Globalization and Europeanization of the Economy, Göttingen, 30 June 1999
25/6/1999
Eugenio Domingo Solans:  Three courses for a dinner speech
Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, Speech given at the Annual Gala Dinner of the Association of International Savings Banks, in London on 25 June 1999
23/6/1999
Eugenio Domingo Solans:  ¿Qué política económica sería la adecuada para mantener el crecimiento y reducir el desempleo?
Puntos de la intervención de Eugenio Domingo Solans, Miembro del Comité Ejecutivo del Banco Central Europeo en el Encuentro Empresarial celebrado con ocasión de la Junta General de Socios de ELKARGI, S.G.R. el 23 de junio de 1999 en San Sebastián
17/6/1999
Otmar Issing:  The ECB and its watchers
Speech by Professor Otmar Issing, at the ECB Watchers Conference on 17 June 1999, in Frankfurt, Germany
11/6/1999
Sirkka Hämäläinen:  The euro: pushing the boundaries
Presentation by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the symposium arranged by the European Private Equity and Venture Capital Association on 11 June 1999 in Prague
10/6/1999
Otmar Issing:  The euro - a stable currency for Europe
Speech by Professor Otmar Issing, at the Suerf Conference on 10 June 1999, in Athens, Greece
10/6/1999
Eugenio Domingo Solans:  First balance and further challenges for the euro
Eugenio Domingo Solans, Member of the Governing Council and the Executive Board of the European Central Bank, Speech at UNICE, Brussels, 10 June 1999
3/6/1999
Eugenio Domingo Solans:  Seis meses de política monetaria del BCE y del SEBC. La formulación de la política monetaria
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo. Intervención en las XXVI Jornadas de Mercados Financieros. Sevilla, 3 de junio 1999.
27/5/1999
Otmar Issing:  Hayek - currency competition and European Monetary Union
Speech by Professor Otmar Issing, Annual Hayek Memorial Lecture hosted by the Institute of Economics affairs, London, 27 May 1999
24/5/1999
Eugenio Domingo Solans:  Should the ECB have broader objectives beyond price stability?
Eugenio Domingo SolansMember of the Governing Council and the Executive Board of the European Central Bank.A speech given at the Wilton Park conference on "EMU: ECONOMIC AND POLITICAL IMPLICATIONS FOR THE "INS", "OUTS" AND EUROPEAN BUSINESS" at Wiston House, West Sussex, on 24 May 1999
21/5/1999
Sirkka Hämäläinen:  The euro: the birth of a new currency
Presentation by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the meeting of the Institut International d'Etudes Bancaires on 21 May 1999 in Helsinki
13/5/1999
Eugenio Domingo Solans:  Perspectivas y enseñanzas del euro como moneda internacional
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo Conferencia en la Asociación Española de Ejecutivos de Finanzas, Madrid, 13 de mayo de 1999.
10/5/1999
Eugenio Domingo Solans:  El BCE. Un Banco Central del siglo XXI
Eugenio Domingo Solans Miembro del Consejo de Gobierno y del Comité Ejecutivo del Banco Central Europeo. Conferencia en el Club Siglo XXI. Madrid, 10 de mayo 1999.
7/5/1999
Otmar Issing:  The euro area economy on its way to the new millennium
Speech by Professor Otmar Issing Member of the Executive Board of the European Central Bank at the Danish Society of Financial Analysts' 25th jubilee Copenhagen, Denmark on 7 May 1999
7/5/1999
Tommaso Padoa-Schioppa:  The euro: a currency bridging peoples and cultures
Presentation by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank Istanbul, 7 May 1999
24/4/1999
Sirkka Hämäläinen:  The Euro: Europe's new currency and the role of the ECB
Speech by Sirkka Hämäläinen Member of the Executive Board of the European Central Bank The Bond Market Association - Annual Meeting 1999 San Francisco, 24 April 1999
15/4/1999
Eugenio Domingo Solans:  The euro in the international capital markets
Opening address delivered by Eugenio Domingo Solans Member of the Governing Council and the Executive Board of the European Central Bank at the Euro Capital Markets Forum - "Dawn of a new era" Marriott Hotel, Frankfurt/Main, 15 April 1999
15/4/1999
Otmar Issing:  Rede zur Verleihung der Würde eines Ehrendoktors des Fachbereichs Wirtschaftswissenschaften der Johann Wolfgang Goethe-Universität, Frankfurt am Main, am 15. April 1999
Professor Dr. Dr. h.c. mult. Otmar Issing Mitglied des Direktoriums der Europäischen Zentralbank
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15/4/1999
Tommaso Padoa-Schioppa:  Eurosystem: new challenges for old missions
Inaugural Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, on the occasion of his appointment as honorary Professor of Johann Wolfgang Goethe-Universität, Frankfurt am Main, 15 April 1999
14/4/1999
Eugenio Domingo Solans:  100 days of EMU: First experiences and further perspectives
Eugenio Domingo Solans Member of the Executive Board of the European Central Bank Speech delivered at the Hochschule für Bankwirtschaft/HfB Frankfurt am Main, 14 April 1999
25/3/1999
Eugenio Domingo Solans:  The statistical requirements of the ESCB
Speech delivered by Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank on the occasion of a visit to the Banque Centrale du Luxembourg Luxembourg, 25 March 1999
24/3/1999
Otmar Issing:  Der Euro und seine Stabilität - Konsequenzen für die Finanzpolitik
Professor Dr. Dr. h.c. mult. Otmar Issing Mitglied des Direktoriums der Europäischen Zentralbank Rede anlässlich des Finanzpolitischen Kongresses 1999 Veranstaltet von Goldman, Sachs & Co. oHG
17/3/1999
Tommaso Padoa-Schioppa:  The external representation of the euro area
Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank Introductory statement at the Sub-Committee on Monetary Affairs European Parliament, Brussels 17 March 1999
16/3/1999
Eugenio Domingo Solans:  Primer balance y apuestas del euro
Eugenio Domingo Solans Miembro del Comité Ejecutivo y del Consejo de Gobierno del Banco Central Europeo Intervención en el Seminario "El euro y su impacto internacional" celebrado con ocasión de la 40 Asamblea del Consejo de Gobernadores del Banco Interamericano de Desarrollo (BID) Paris, 16 de marzo de 1999
10/3/1999
Eugenio Domingo Solans:  The euro as a new world currency
Eugenio Domingo Solans, Member of the Executive Board of the European Central Bank Delivered in the forum on the euro, at the Bankers Club, Mexico, 10 March 1999.
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9/3/1999
Tommaso Padoa-Schioppa:  The euro: significance for Europe and beyond
Speech by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank Committee on Financial Affairs of the House of Councillors Tokyo, 9 March 1999
25/2/1999
Sirkka Hämäläinen:  European Economic and Monetary Union - principles and perspectives
Summary of a presentation by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, The Tore Browaldh lecture 1999, School of Economics and Commercial Law, Göteborg University, Gothenburg, 25 February 1999
24/2/1999
Tommaso Padoa-Schioppa:  EMU and banking supervision
Lecture by Tommaso Padoa-Schioppa Member of the Executive Board of the European Central Bank at the London School of Economics, Financial Markets Group on 24 February 1999
5/2/1999
Sirkka Hämäläinen:  The role of the euro in the international monetary system - reserve currency, trade currency and investment currency
Speech presented by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the City of Frankfurt Euro Symposium, Frankfurt, 5 February 1998
28/1/1999
Otmar Issing:  The euro - four weeks after the start
Prof. Otmar Issing, Member of the Executive Board of the European Central Bank, Speech delivered to the European-Atlantic Group, House of Commons, London, 28 January 1999
25/1/1999
Sirkka Hämäläinen:  Finnish savers and investors in the euro area
Speech presented by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, on the Theme Day: From saving to investing - new forms of asset management, organised by Research foundation of the Okobank group, Helsinki, on 25 January 1999.
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4/12/1998
Eugenio Domingo Solans:  The monetary policy of the European Central Bank
Speech by Eugenio Domingo Solans Member of the Executive Board of the European Central Bank during the "Working Breakfast" at the Permanent Seminar on 4 December 1998 in Madrid
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3/12/1998
Tommaso Padoa-Schioppa:  The external value of the euro
Remarks by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the 3rd DVFA/GMCC Dinner on 3 December 1998 in Frankfurt am Main
26/11/1998
Otmar Issing:  The European Central Bank on the eve of EMU
Professor Otmar Issing, Speech delivered to the LSE European Society London School of Economics on 26 November 1998 in London
12/11/1998
Sirkka Hämäläinen:  "Achieving a credible euro - the role of the ESCB's monetary policy"
Speech presented by Ms Sirkka Hämäläinen, Member of the Executive Board of the European Central Bank, at the DUPI Conference on Economic and Monetary Union, Copenhagen, on 12 November 1998
6/11/1998
Tommaso Padoa-Schioppa:  The housing finance markets and EMU
Speech delivered by Dr. Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Annual General Meeting of the European Mortgage Federation on 6 November 1998 in Brussels
27/10/1998
Tommaso Padoa-Schioppa:  The impact of the introduction of the euro on ACP countries and particularly on the CFA franc zone
Speech by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, at the Committee on Development and Co-operation on 27 October 1998 European Parliament, Brussels
26/10/1998
Sirkka Hämäläinen:  The European perspective on the euro
Presentation by Ms Sirkka Hämäläinen at the Euro Conference, Fordham University, New York, on 26 October 1998.
6/10/1998
Otmar Issing:  Monetary policy in EMU
Prof. Otmar Issing Member of the executive board of the European Central Bank Washington, D.C. 6 October 1998
3/9/1998
Tommaso Padoa-Schioppa:  On the eve of the euro
Lecture by Tommaso Padoa-Schioppa, Member of the Executive Board of the European Central Bank, Brixen Summer School, European Academy, Brixen, 3 September 1998
9/7/1998
Eugenio Domingo Solans:  El sistema europeo de bancos centrales. Aspectos functionales e institutionales
Principales puntos de la intervención de Eugenio Domingo Solans en el Curso de Verano de la Universidad Complutense de Madrid Aguadulce (Almería), 9 de julio de 1998
4/7/1998
Otmar Issing:  Von der D-Mark zum Euro
Otmar Issing, Vortrag am 4. Juli 1998 in Konstanz aus Anlaß der Verleihung der Würde des Ehrendoktors durch die Fakultät für Wirtschaftswissenschaften und Statistik
2/7/1998
Otmar Issing:  Crisis prevention: IMF surveillance, need for new teeth?
Statement by Professor Otmar Issing Member of the Executive Board of the European Central Bank at the IMF conference on The role of the IMF in the world economy to be held in Frankfurt am Main on July 2, 1998
26/6/1998
Eugenio Domingo Solans:  Principales aspectos relacionados con la introducción del euro
Eugenio Domingo Solans
5/3/1998
Willem F. Duisenberg:  The euro and the process of European integration
Speech delivered by Dr. Willem F. Duisenberg, President of the European Monetary Institute, at the Seventh Bernard Mandeville Lecture in Rotterdam - the Netherlands, 5 March 1998 (translated from the original Dutch)
16/2/1998
Willem F. Duisenberg:  The ESCB: independent, transparent and communicative
Speech delivered by Dr. Willem F. Duisenberg, President of the European Monetary Institute, at the Bankers’ Club Annual Banquet in London, 16 February 1998
5/2/1998
Willem F. Duisenberg:  EMU and the financial sector
Inaugural lecture to the Leerstoel Generale Bankby Dr. Willem F. Duisenberg, President of the EMI, at the Katholieke Universiteit van Leuvenon 5 February 1998
30/1/1998
Willem F. Duisenberg:  The role of the future European System of Central Banks
Speech delivered by Dr. Willem F. Duisenberg, President of the European Monetary Institute, at the World Economic Forum Davos, 30 January 1998
22/1/1998
Willem F. Duisenberg:  EMU - How to grasp the opportunities and avoid the risks
Speech delivered by Dr. W. F. Duisenberg, President of the European Monetary Institute, at the Forum de l'Expansion Paris, 22 January 1998
19/1/1998
Willem F. Duisenberg:  EMU: many countries - one monetary system
Speech by Dr. Willem F. Duisenberg (Hong Kong, 19 January 1998)
16/1/1998
Willem F. Duisenberg:  EMU: the building of one monetary system in the European Union
Speech by Dr. Willem F. Duisenberg (Tokyo, 16 January 1998)
27/11/1997
Willem F. Duisenberg:  Monetary policy in Europe - Quo Vadis?
Speech by Willem F. Duisenberg President of the European Monetary Institute London, 27 November 1997
20/11/1997
Willem F. Duisenberg:  Monetary policy in EMU
Speech by Dr. Willem F. Duisenberg President of the European Monetary Institute Third International Finance and Economic Forum Vienna, 20 November 1997
15/11/1997
Willem F. Duisenberg:  Monetary policy in EMU
Speech by Dr. W. F. Duisenberg, President of the European Monetary Institute Universidade Nova De Lisboa Lisbon, 15 November 1997
14/11/1997
Willem F. Duisenberg:  Conditions for the success of EMU
Speech delivered by Dr. Willem F. Duisenberg, President of the European Monetary Institute, Pamplona, 14 November 1997
10/11/1997
Willem F. Duisenberg:  Where do we stand in the EMU process?
Keynote address by Dr. W. F. Duisenberg, President of the EMI, at the National Conference of the Confederation of British Industry, Birmingham, 10 November 1997
22/10/1997
Willem F. Duisenberg:  The European System of Central Banks: a profile
Speech delivered by Dr. W. F. Duisenberg, President of the European Monetary Institute, at the Conference on "European Monetary Union: Prospects for EuropeanFinancial Markets"Paris, 22 October 1997
17/10/1997
Willem F. Duisenberg:  1999 - A new European monetary system
Speech by Wim Duisenberg, President of the European Monetary Institute, at the conference "The euro and the European innovative industry" in Toulouse, France, on 17 October 1997
14/10/1997
Willem F. Duisenberg:  Monetary stability and economic growth or: Why stable prices are good for private enterprise in France and the Netherlands
Speech delivered by Dr. W.F. Duisenberg, President of the European Monetary Institute, to the French/Dutch Chamber of Commerce in The Hague, 14 October 1997
13/10/1997
Willem F. Duisenberg:  Hearing of the President of the EMI by the Monetary Sub-Committee of the European Parliament
Introductory statement delivered by Dr. W. F. Duisenbergon 13 October 1997
22/9/1997
Willem F. Duisenberg:  The European Monetary Institute and progress towards monetary union
Speech delivered by Dr. W. F. Duisenberg, President of the European Monetary Institute at the International Banking Seminar in Hong Kong on 22 September 1997
12/9/1997
Willem F. Duisenberg:  From the EMI to the ESCB: Achievements and challenges
Speech delivered by Dr. W. F. Duisenberg, President of the European Monetary Instituteat a luncheon organised in conjunction withthe Luxembourg Bankers' Association and the International Bankers Clubin Luxembourg on 12 September 1997
30/6/1997
Alexandre Lamfalussy:  Farewell address
Address given by Baron Alexandre Lamfalussy on the occasion of the change of presidency of the European Monetary Institute in Frankfurt am Main on 30 June 1997
30/6/1997
Willem F. Duisenberg:  Farewell to a Central banker
Address by Dr. W. F. Duisenberg, President of De Nederlandsche Bank, on the occasion of Baron A. Lamfalussy's farewell as President of the European Monetary Institute, 30 June 1997.
2/6/1997
Alexandre Lamfalussy:  The changeover to the euro
Remarks by Alexandre Lamfalussy, President of the European Monetary Institute, at the International Monetary Conference, Interlaken, 2 June 1997
13/5/1997
Alexandre Lamfalussy:  The European Central Bank: independent and accountable
Keynote speech delivered by Alexandre Lamfalussy, President of the European Monetary Institute, at the Oesterreichische Nationalbank, Vienna, 13 May 1997
30/4/1997
Alexandre Lamfalussy:  The operation of monetary policy in stage three of EMU
Address by Alexandre Lamfalussy, President of the European Monetary Institute, to the Euromoney Conference in New York, 30 April 1997
22/4/1997
Alexandre Lamfalussy:  Convergence and the role of the European Central Bank
Remarks by Alexandre Lamfalussy, President of the European Monetary Institute to the International Symposium "EMU - the euro's challenge to the dollar and the yen", Institute for International Monetary Affairs, Tokyo, 22 April 1997
10/3/1997
Alexandre Lamfalussy:  Securing the benefits of EMU
Address by Alexandre Lamfalussy, President of the European Monetary Institute, to the forum "The future of European Monetary Integration", London School of Economics, 10 March 1997
7/2/1997
Alexandre Lamfalussy:  Conference organised by the Hungarian Banking Association
Address by Alexandre Lamfalussy, President of the European Monetary Institute on the occasion of the tenth anniversary of the establishment of the new Hungarian banking system, Budapest, 7 February 1997