Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of … tend not to take into account the policies of the European Central Bank. …

We analyze the similarities and the differences in the fragility of the European Monetary System (EMS) and the Eurozone … foreign exchange markets while in the Eurozone it was the absence of a lender of last resort in the long-term government bond … Eurozone the roles were reversed. The national central banks that became part of the Eurosystem were strengthened …

for price stability and maintaining central bank independence and credibility. The report consists of three parts. The … general conceptual aspects – i.e. those aspects that pertain to an environment characterised by a single central bank and a … single fiscal authority and those aspects that pertain to an environment characterised by a single central bank and many …

Eurozone and even speculation that the euro might break up. Against this background this paper sets out to re-examine the Hard …

the European Central Bank (ECB) have evolved in these three countries since their introduction at the turn of the century …