The paper provides an analysis of the euro area money and bond markets and their infrastructure since the introduction … of the euro. Significant development in terms of integration took place in both markets in general to a various degree … notably regarding the bond market which lags behind in terms of liquidity, market completeness and overall size compared to …

) indicators of the euro. This framework yields two sets of indicators - (i) one nominal and several real EER indices against a … narrow reference group of euro area trading partners based on different price and cost deflators; and (ii) a nominal and a … industrial and newly industrialised euro area partner countries, while the broad group is made up of 38 trading partners …

This paper reviews the economic, monetary and financial relations between the EU and the euro area and a set of …, some common features can also be identified. One of these common features is the fact that the euro area is their largest … assistance; meanwhile, from a euro area perspective, while these countries account for a somewhat smaller share of external trade …

This paper analyses the main features of the market for euro-denominated bonds issued by non-euro area residents on the … ample evidence that the City of London plays a key role in the market for euro-denominated bonds issued by non-euro area … the internationalisation of the euro since 1999, more than sovereigns in transition and emerging economies, whose part was …

last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that … euro by Russian residents and authorities in international transactions has increased, albeit at an uneven pace. While, in … general, the US dollar remains the major foreign currency used by Russian residents, the euro has gained importance as an …

between exchange rates and prices, showing that there is at most a moderate decline in exchange rate pass-through for the euro … of euro area exports to exchange rate changes may have declined somewhat as a result of globalisation, reflecting mainly … exchange rates on GDP and the potential role of valuation effects as a transmission channel in the case of the euro area. …

Jean Pisani-Ferry and André Sapir believe that the euro has proved attractive as a fair-weather currency for countries … succeed as a stormy-weather currency. The authors already detect, howevever, that the crisis shows the euro-area governance …