Almighty Alan Greenspan

Article Abstract:

Chairman of the Federal Reserve,Alan Greenspan, has performed well in a number of crises such as the drop in stock prices in 1987 and the Asian financial crisis of 1997 to 1998. There is concern that there is more chance for error when someone is as highly regarded as Greenspan. Investors may also be more likely to make mistakes if they believe that Greenspan willbail them out. He does not have an obvious successor and there is also concern over what will occur on his retirement.

Greenspan, Alan, United States. Federal Reserve Board

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Unappreciated

Article Abstract:

The European euro currency has dropped in value and there have been criticisms of the European Central Bank (ECB). The ECB does not have a long track record, unlike the Federal Reserve Board. The ECB's performance is examined in further detail.

Exchange Rates, Prices and rates, Foreign exchange, Foreign exchange rates

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Euro Towers or Fawlty Towers?

Article Abstract:

The European Central Bank (ECB) will have responsibility for economic policy for 11 countries taking part in European monetary union (Emu). National central banks are to become ECB agents. There could be conflict over exchange rate policy, especially in view of a move to the political left in Europe. The ECB has to establish credentials as a bulwark against inflation, and this task has been hampered by a dispute over who is to be head of the ECB. Transparency would help strengthen the ECB, especially in view of uncertainties related to economic policy.

Western Europe, Monetary unions

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