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It's not just the tragic events in Kosovo that are hitting the economies and financial assets of central Europe. The current state of the European Union isn't helping either. It's ironic that, just as central Europe's reorientation towards the EU once underpinned its post-communist revival, it's now proving to be its nemesis. Slow growth in the EU this year means big external financing gaps for Poland and Hungary. Germany, which accounts for around 30% of the region's exports, is crucial. But the collapse of demand from Russia, which accounts for another 5% to 8% of exports, doesn't help.

Which bank has the best connected external directors? Steven Irvine presents the first ever ranking of this often neglected weapon in the competitive armoury.

Gordon Brown, UK chancellor of the exchequer, speaks to Nick Kochan about the birth of the euro, tax competition in Europe and rethinking the world's financial architecture.

Since Russia and LTCM, risk managers have been searching for a better way to value financial firms and the risks they run. Amazingly, they and their regulators temporarily lost sight of an important relationship - between financial assets and the way they are funded. David Shirreff reports on a meeting at the sharp end of firm-wide risk management

When Wim Duisenberg announced a 50 basis point cut in the European Central Bank refinancing rate from 3% to 2.5% on April 8, he made every effort to pre-empt speculation about more such cuts for the foreseeable future. Throughout its first three months of operation, the ECB has had to endure endless pressure from European politicians and private-sector economists to cut interest rates. Having frustrated this critical audience by keeping rates stable in the face of sharply declining business confidence in the three largest economies in euroland Germany, Italy and France Duisenberg now surprised the markets with one swift, deep cut. And his message was: "This is it." Don't expect any more cuts in the near to medium term.

FX Poll: Life after execution

FX Poll: Life after execution

Could El Salvador, a country of 6 million people, be about to steal a march on its larger Latin American neighbours?

David Bowie's done it, European soccer clubs have done it, even British pubs and motorway service stations have done it. Now it's the turn of waxwork models.