Welcome to the July-August edition of the OMFIF Bulletin, the biggest-ever at 48 pages, grouped into six sections with two dozen contributors. That illustrates the wider-ranging format and more international content that OMFIF wants to bring into its activities. All this is part of wider world economic shifts that we are endeavouring to track (and encourage). We introduce a new feature, the Monthly Review, containing news from the recent past and outlining forthcoming highlights. International Monetary Policy brings contributions by Stanley Fischer, Gabriel Stein, Richard Fisher, Jaime Caruana and the
latest round-up of Federal Reserve developments from Darrell Delamaide. The euro and its problems have not gone away. We record the thoughts of Holger Fahrinkrug and Stefan Bielmeier on the imbroglio facing Germany over the constitutional court’s hearings on potential bond purchases by the European Central Bank. Willem van Hasselt provides a historical perspective to Britain’s famed tergiversation on Europe. We outline Dave Ramsden’s account of the lessons learned by the British Treasury over the analysis of possible UK membership of the euro, completed 10 years ago. Lars Rohde introduces a Danish perspective into the debate on banking union. Michael Burda describes how the constituency boundaries of the ECB could be redrawn. In our Emerging Markets section, we record the views of Rundheersing Bheenick, Atiur Rahman, Kishore Mahbubani, John Adams, Carlos Hamilton Araújo, Lucas Abaga Nchama, Roland Holst and Christopher Probyn. Forrest Capie and Michael Lafferty provide reflections on tighter banking capital regulations. William Keegan rounds off, once again, in bittersweet fashion