| Summary: | <p>Almost a year after the European Central Bank (ECB) officially "opened for business," this second major report in the Monitoring European Central Bank series provides a detailed analysis of the ECB's actions and alerts the public to the main issues raised by the policies pursued by the ECB during its first year. Written by a team of distinguished economists known internationally for their work on macroeconomics, the report also provides an assessment of the key issues facing European monetary policy.
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