A senior European Central Bank official has publicly discussed the reasons for his surprise resignation, saying he is not satisfied with the direction Europe’s currency union has taken.

THE EUROPEAN Central Bank’s incoming president signalled yesterday that the bank stood ready to carry on buying the bonds of troubled eurozone governments, suggesting he is ready to intervene to steady markets in the face of German misgivings.

INTEREST rates could be cut before the end of the year, but many expect the European Central Bank (ECB) to keep them on hold next week.

SEVEN world leaders yesterday demanded Europe act more decisively to quell its debt crisis as a European Central Bank study warned that the entire euro currency project was now in peril.

The European Central Bank has warned in a newly-published study that the eurozone debt crisis and persistent overspending by member states could jeopardise the ultimate success of the single currency.

EAMON GILMORE was very quick to jump to the aide of the public sector and its Croke Park agreement “get out of jail card” when an outgoing senior employee of the European Central Bank (ECB) had the temerity to suggest that Irish public sector pay levels should be tackled.

OFFICIALS from German Chancellor Angela Merkel’s coalition sent a tough message to Greece yesterday that it might have to leave the eurozone if it fails to meet conditions for its bailout.

THE resignation of the top German official at the European Central Bank couldn’t have come at a worse time for eurozone policymakers as they search for a way out of the deepest crisis in the currency’s 12-year history.

THE United States pressed Europe’s strongest economies yesterday to give “unequivocal” financial support to weaker euro zone states to overcome a debt crisis that threatens the world economy.

THE ISEQ index broke its positive run to close down 79.99 points to 2,444.02 yesterday in line with other European and world bourses.

Europe’s handling of its debt crisis returned to haunt markets today, with stocks down sharply and the euro sinking to its lowest level against the dollar in more than six months after a top European Central Bank official unexpectedly resigned.

Global stock markets have suffered another day of heavy losses.

AS yet another Irish financial institution announced a mortgage interest rate hike, there appears to be no lifeline on the horizon from Europe with the European Central Bank refusing to rule out further interest rate hikes this year.

EUROPEAN Central Bank Governing Council member Christian Noyer ruled out a restructuring of Greece’s debt, calling it a “horror story” that would leave the nation shut out of financing for years.

EUROPEAN inflation accelerated at the fastest rate in two-and-a-half years in April, increasing pressure on the European Central Bank to raise borrowing costs further.

EUROPEAN Central Bank (ECB) policymakers underscored the case for an April rate hike yesterday as Portugal’s political crisis raised the prospect of another spell of reluctant ECB bond market intervention.

The European Central Bank's top economist has said inflation is likely to be subdued for two years, suggesting its main interest rate could remain at 1% for longer than had been expected.

New York: US consumers’ mood grew less grim in March, according to a survey, while the latest figures showed the US trade deficit narrowed in January to its smallest in more than six years.

INFLATION concerns have let two leading ECB officials to warn the next move in European interest rates could be upwards.

The German government is nominating an economics professor as central bank president to succeed Ernst Welteke, who stepped down for taking a free hotel stay from a commercial bank.

The head of Germany’s Bundesbank, Ernst Welteke, resigned today after coming under heavy criticism for taking a free hotel stay from a commercial bank, the central bank said.

Ireland is to come under immense pressure from EU finance ministers to pull back from plans to expand the 2001 budget which the EC says could cause inflation and undermine the euro.