CHRISTOPHER ALLSOPP Oxford University YANUS AKSOY Catholic University of Leuven IGNAZIO ANGELONI European Central Bank MICHAEL ARTIS European University Institute and CEPR STEPHEN BAZEN Universite Montesquieu-Bordeaux IV JOE BISIGNANO Bank for International Settlements VINCENZO CHIORAZZO Crediop and Centro Europa Ricerche DAVID COBHAM University of St Andrews JOHN CURTICE University of Strathclyde HANS DEWACHTER Catholic University of Leuven PAUL DE GRAUWE Catholic University of Leuven JOHN DRIFFILL University of Southampton VITOR GASPAR European Central Bank ERIC GIRARDIN Universite Montesquieu-Bordeaux IV CHARLES GOODHART London School of Economics and Bank of England Monetary Policy Committee ANDREW HALDANE Bank of England PAUL MIZEN University of Nottingham and C.E.P.R ROBERT PRINGLE Central Banking Publications LUIGI SPAVENTA University of Rome La Sapienza, C.O.N.S.O.B and C.E.P.R PHILIP STEPHENS Financial Times ROLF STRAUCH Z.E.I, University of Bonn ALAN SUTHERLAND University of York ORESTE TRISTANI European Central Bank MATTHEW TURNER Central Banking Publications JURGEN VON HAGEN Z.E.I, University of Bonn, Indiana University and C.E.P.R. MARTIN WEALE National Institute of Economics and Social Research GEORGE ZIS Manchester Metropolitan University.