“Bitcoin accepted” sign in the window of a cafe in Zurich. Photograph: iStock

One of the top bankers in the euro zone has described bitcoin as “the evil spawn of the financial crisis”. European Central Bank executive board membe(...)

Stefan Gerlach is one of two deputy governors at the Central Bank.  Photograph: Eric Luke / The Irish Times

BTG Pactual’s Swiss private bank BSI has hired the deputy governor of the Central Bank of Ireland Stefan Gerlach as chief economist. Mr Gerlach, a dua(...)

The Federal Reserve in Washington DC: “Over a long period of time, United States monetary policy has operated on an asymmetric basis whereby the Federal Reserve loosens in response to market collapses but fails to restrain market euphoria.” Photograph: Andrew Harrer/Bloomberg

In introducing the latest quarterly report from the Bank for International Settlements (BIS), Claudio Borio, head of the bank’s monetary and economic (...)

A client counts Vietnamese dong banknotes at a bank in Vinh Yen city, Vietnam, yesterday – Vietnam devalued the dong for the third time this year. Photograph: Kham/Reuters

Kazakhstan and Vietnam allowed their currencies to fall yesterday, fuelling expectations of further depreciations among emerging market countries that(...)

Stockholm, Sweden. Swedish unemployment stopped falling soon after the rate hikes began. Deflation took a little longer, but it eventually arrived. The rock star of the recovery has turned itself into Japan.

Three years ago Sweden was regarded as a role model in how to deal with a global crisis. The nation’s exports were hit hard by slumping world t(...)