Highlights of recent developments in financial markets

Article Abstract:

Europe's financial markets developed and converged faster than what most financial analysts expected during the first six months of the euro. For instance, government bond yields had already converged by the start of 1999. There is also increasing evidence of alliances taking place between financial markets. There are also indications that the financial and corporate sector would like to operate in a euro-wide zone based on the number of mergers and corporate takeovers throughout the business sector of the euro zone.

Economic aspects, Euro (Currency), Euromarkets

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The implementation of the Eurosystem's monetary policy and its effects on financial markets

Article Abstract:

The monetary policy framework of the Eurosystem and the operations performed by the European Central Bank (ECB) during the first few months of the European Monetary Union (EMU) are discussed. The operational framework of the Eurosystem is the set of guidelines by which the ECB manages liquidity in the euro-zone and set interest rates in the integrated money market. It contains elements from the different national monetary frameworks before the EMU was established.

Public Finance Activities, Fiscal Policy, Economic policy, Monetary policy

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Funds raised on the international markets

Article Abstract:

A publication launched by the Organization for Economic Cooperation and Development revealed that international financial markets have shown remarkable growth since the early 1950s. The publication, entitled 'International Capital Markets Statistics, 1950-1995,' showed that the strong performance of these markets over the years led to the introduction of new financial instruments, including floating rate notes, convertible bonds and bonds with warrant.

Publishing industry, History, Organization for Economic Cooperation and Development

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