Puts the decline of the euro’s value following its introduction down to rapid US economic growth and the expansionary policies of the European Central Bank. Contrasts popular UK opposition to joining the euro with business pressure to do so, and suggests that the five stated conditions for...

Assesses the effectiveness of the European Central Bank in maintaining price stability, growth and bank liquidity across the eurozone. Looks at the policies which it has applied in response to economic events, suggesting that its treatment of the falling euro value has eroded its credibility and...

Asks whether the introduction of the euro has added value to firms, noting that it has reduced imports, exchange rate volatility and transaction costs in member states; and stimulated European mergers and acquisitions and cross‐border deals, even though these may be hampered by nationalism,...

Analyses the structural behaviour of money and capital market interest rates 1999‐2001 in the European Monetary Union. Finds that the positive correlations between interest rates of different time periods get stronger as the time periods get closer, derives the principal components which...

Considers the macroeconomic effects of European monetary union and the launch of the euro, suggesting that it offers major advantages to European traders, investors and consumers by reducing transaction costs, currency risks and information costs. Recognizes some problems, e.g. transition costs,...

Purpose -The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis. Design/methodology/approach - The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and...