We document the mechanism through which the risk of fire sales in the sovereign bond market contributed to the effectiveness of two major central bank interventions designed to restore financial stability during the European sovereign debt crisis. As a lender of last resort via the long-term...

Whilst the debate on the merits of adopting the euro rage on in the UK, comparatively little attention is paid to the way in which the ECB is managing monetary policy in the euro zone. This analysis describes the success of the first five years of the euro's life. Not only has price stability...

Issings Buch schildert auf 176 Seiten den schweren Abschied der Deutschen von der D-Mark und nennt die Gründe, die zum Erfolg des Euro und der Europäischen Zentralbank führten. Zugleich geht Otmar Issing auf Konflikte der Währungshüter mit der Politik und mögliche künftige Gefährdungen...

In his speech at the conference "The SNB and its Watchers", Otmar Issing, member of the ECB Governing Council from its start in 1998 until 2006, takes a look back at more than twenty years of the conference series "The ECB and Its Watchers". In June 1999, Issing established this format together...

How and for whose benefit the European Central Bank (ECB) will work is the most important issue facing Europe. A team from the ECB, including Otmar Issing it's Chief Economist, here present a non-technical analysis of the ECB's monetary policy strategy, institutional features and procedures