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The current crisis has confirmed the importance of the currency swap lines offered by the Federal Reserve. They enhance the role of the USD as the dominant global currency. However, one should not expect much impact on the international role of the euro when the ECB offers similar currency swap lines. Currency competition is not won by competing on the generosity of currency swap lines. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at ...

Switzerland is stable, prosperous, and has the most competitive economy in the world. However, the strong franc and the potential economic repercussions of the February 2014 referendum 'against mass immigration' pose new challenges to Swiss economic competitiveness and growth, which the government elected in October 2015 will have to address in the coming months.

Background to the €uro

Studie 01-03-2003

This study looks at the € from a number of different angles. It first examines the theoretical basis for a single currency area in Europe; and then outlines the history of that single currency's creation, from the 'snake' in the 1970s to the introduction of € notes and coins at the beginning of 2002. The four final sections concern issues of current or future importance: the working of the Stability and Growth Pact and of economic co-ordination; the conduct of monetary policy by the ECB; the potential ...

This briefing examines the consequences for Norway, Iceland, Liechtenstein and Switzerland of the creation of the euro. It analyses each of these countries' economic and monetary policies, and also the possible links between the exchange rates of their currencies and that of the euro. Finally, it examines the possible effects of EMU and of the policies of the European Central Bank on the conduct of monetary, exchange rate, fiscal and other policies in third countries, and in those of the EFTA in ...

Although the third stage of EMU began on 1 January 1999, euro-denominated notes and coins will not start circulating until 2002; and national currency may continue circulating until July of that year. As a result, the euro may meanwhile be described as a parallel currency, which can be used on a no prohibition, no compulsion basis. This study examines the consequences for firms, public authorities and citizens; and tghe preparations for introducing the euro notes and coins. It also looks at the impact ...