Balkan and Mediterranean Candidates for European Union Membership: The Convergence of Their Monetary Policy with That of the European Central Bank

This work presents the European Central Bank’s role in eliminating economic crisis in the European Union. It contains roots and course of the financial slowdown in the eurozone. The Authors show competences of the institution before and its functions during the crisis. Finally, there was made an attempt to evaluate the effectiveness of the ECB monetary policy.

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ACTIVATING INTERVENTIONIST MONETARY POLICY OF THE EUROPEAN CENTRAL BANK IN THE CONTEXT OF THE SECURITY OF THE EUROPEAN FINANCIAL SYSTEM

International Journal of New Economics and Social Sciences ◽

10.5604/01.3001.0010.3914 ◽

2016 ◽

Vol 4 (2) ◽

pp. 0-0

Author(s):

Sylwia Gwoździewicz ◽

Dariusz Prokopowicz ◽

Daniel Szybowski

Keyword(s):

European Union ◽

Monetary Policy ◽

Central Bank ◽

Interest Rates ◽

European Central Bank ◽

Financial System ◽

The European Union ◽

Assistance Programs ◽

European Central ◽

Low Interest Rates

The development of market financial system in Poland was determined to a large extent, globally operating processes of the situation on the financial markets and the processes of adaptation to the normative standards and technological European Union. As part of anti-crisis measures leading central banks, Anglo-Saxon and European financial system have launched a high-budget system, interventionist assistance programs. Finally, the cost of rescuing the financial system was thrown to the proverbial John Doe ie. Most numerous segment of bank customers. Currentlyperformed research carried out in previous years, interventionist government programs to rescue the anti-crisis measures of the key players of the economy from bankruptcy financial and activation of demand, investment, production and liquidity in the credit market. In terms of development-oriented activities of government intervention, the European Central Bank continues to apply mild monetary policy of low interest rates in order to improve liquidity in the financial system and offering cheap money for the development of pro-investment share of credit of commercial banks operating in the European Union.

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20 YEARS OF EUROPEAN MONETARY POLICY. FROM DOCTRINARISM TO REALPOLITIK

Scientific Annals of Economics and Business ◽

10.47743/saeb-2019-0032 ◽

2019 ◽

pp. 149-172

Author(s):

Luis Ángel Hierro ◽

Antonio José Garzón ◽

Helena Domínguez-Torres

Keyword(s):

European Union ◽

Monetary Policy ◽

Central Bank ◽

European Central Bank ◽

Central Banks ◽

The European Union ◽

European Monetary ◽

Monetary Policies ◽

European Central ◽

European Monetary Policy

This paper describes the monetary policy of the European Central Bank since the birth of the Euro. The different economic situations and the monetary policies implemented during the mandate of each one of the three ECB presidents are analysed as a process of evolution. We study the situations of cyclical asynchrony together with the response given to it by the European monetary authority. We also assess the change experienced by the main economic indicators of the twelve founding countries during the 20 years of the single currency. The main conclusion obtained is that monetary policy has evolved from the strict approach defined in the Treaty on the Functioning of the European Union to an approach closer to that of the rest of central banks, which we have called “monetary realpolitik”.

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Trust in the European Union project and the role of ECB

Economia Politica ◽

10.1007/s40888-021-00229-5 ◽

2021 ◽

Author(s):

Giorgio Liotti ◽

Rosaria Rita Canale

Keyword(s):

European Union ◽

Monetary Policy ◽

Central Bank ◽

European Central Bank ◽

Yield Curve ◽

The European Union ◽

Policy Action ◽

Policy Strategy ◽

European Central ◽

Union Project

AbstractWas the European Central Bank able to assure the relaunch of the European project after the weakening of the post-crisis period? To answer this question, this paper presents an empirical analysis connecting citizen trust in the European Union with a variable intended to be a measure of the monetary policy strategy of the European Central Bank, namely, the interest rate on government bonds extracted from the 1-year maturity yield curve. The dynamic panel technique, applied to nineteen Eurozone countries for the time span of 2004–2018, estimates the presence of a long-run common relationship between the variables despite allowing different short-run adjustment mechanisms. Results are revealed to be not univocal: the easy monetary policy strategy is associated for the whole period with a decline of trust, and therefore, despite its impressiveness, it was not sufficient to relaunch the European Union project. However, when considering the change in strategy of the post-2013 period, it seemed to have contributed to a slight inversion of the decline of trust. These results highlight the importance of non-conventional measures and call for further support from coordinated policy action as a response to the negative shock deriving from the COVID-19 pandemic.

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The Monetary Policy of the European Central Bank under Mario Draghi before the Background of the Duality Principle in the Natural World

Finance and business ◽

10.31085/1814-4802-2020-16-2-34-64 ◽

2020 ◽

Vol 16 (2) ◽

pp. 34-64

Author(s):

H. Maier

Keyword(s):

Monetary Policy ◽

Central Bank ◽

European Central Bank ◽

Natural World ◽

Duality Principle ◽

European Central

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Dramatis Institutiones

10.1093/oso/9780198801801.003.0003 ◽

2017 ◽

Cited By ~ 1

Author(s):

C. Randall Henning

Keyword(s):

European Union ◽

Central Bank ◽

International Monetary Fund ◽

Euro Area ◽

European Central Bank ◽

The European Union ◽

European Central ◽

Regime Complex ◽

Basic Facts ◽

Institutional Conflict

The regime complex for crisis finance in the euro area included the European Council, Council of the European Union, and Eurogroup in addition to the three institutions of the troika. As the member states acted largely, though not exclusively, through the council system, these bodies stood at the center of the institutional mix. This chapter reviews the institutions as a prelude to examining the dilemmas that confronted them over the course of the crises. It presents a brief review of some of the basic facts about their origins, membership, and organization. Each section then delves more deeply into these institutions’ governance and principles to understand their capabilities and strategic challenges. As a consequence of different mandates and design, the European Commission, European Central Bank, and International Monetary Fund diverged with respect to their approach to financing, adjustment, conditionality, and debt sustainability. This divergence set the stage for institutional conflict in the country programs.

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