The single currency has created a liquid market in European corporate bonds.

ECONOMIST: Bidding for the future | The

The Union's most attention-catching projects in the last decade have been the creation of an internal market, a single currency and an independent European central bank.

ECONOMIST: Charlemagne

Having successfully adopted a single market, the European Union is now taking on a single currency.

ECONOMIST: Good fences

Yet such policies indicate hostility to entrepreneurship and wealth creation and reflect the French Socialist Party's failure to recognise that the world has changed since 1981, when capital controls were in place, the European single market was incomplete, young workers were less mobile and there was no single currency.

ECONOMIST: France's future

In addition, the Federal Open Market Committee has authorized increases in its existing temporary reciprocal currency arrangements with the European Central Bank and the Swiss National Bank.

FORBES: Fed To The Rescue!