Towards a digital capital markets union
Piero Cipollone argues that recent advancements in digital technology offer an opportunity to create an integrated European capital market for digital assets
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ECB
Sustainable finance: from ‘eureka!’ to action
Climate and nature-related risks are significant financial risks. Frank Elderson argues that they therefore fall within the respective mandates of central banks and supervisors – to preserve price stability and ensure the safety and soundness of banks
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Setbacks and strides forward: structural shifts and monetary policy in the twenties
The global economy is facing rifts comparable to the pressures that resulted in ‘economic nationalism, a collapse in global trade and the Great Depression of the 1920s, Christine Lagarde warns
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Why Europe must safeguard its global currency status
Amid geopolitical shifts Piero Cipollone argues Europe needs to further develop the infrastructure for making crossborder payments in euro with key partners
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Bulgaria’s full integration into the eurozone: when?
Bulgaria meets all the nominal convergence criteria, except the one of inflation. Dimitar Radev examines the benefits in joining the eurozone as quickly as possible
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Innovation, integration and independence
Innovative, integrated and independent retail payments are crucial components of our monetary system. As payments transition into the digital era, Piero Cipollone discusses taking the Single Euro Payments Area to the next level
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“Know thyself” – avoiding policy mistakes in light of the prevailing climate science
Failure to meet the Paris climate goals poses economic challenges that have an impact on central banks’ work, argues Frank Elderson. To avoid long-term policy mistakes, policymakers must address the resulting structural changes
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Building confidence in the path ahead
Christine Lagarde outlines what needs to be done to become sufficiently confident to start dialling back the ECB’s restrictive policy stance
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From laggard to leader? Closing the euro area’s technology gap
Isabel Schnabel emphasises the euro area’s strengths in social protection and environmental initiatives, and advocates measure to close the euro area’s technology gap
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Demystifying fears about bank disintermediation
The ECB’s Governing Council has decided to proceed with the ‘preparation phase’. Ulrich Bindseil, Piero Cipollone and Jürgen Schaaf focus on the debate around the impact of a digital euro on bank funding
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