temas

Learn Europe / Subjects / The European Central Bank

The European Central Bank

Economy

Contents

  • The European Central Bank (ECB) is the institution responsible for independently implementing the monetary policy of the Euro area. It was created in 1998 and has its headquarters in Frankfurt.
  • The ECB and the rest of the central banks in the Euro area form the European System of Central Banks (ESCB), which is responsible for defining EU monetary policy.
  • The main objective of the ECB is to maintain price stability within the euro area.
  • The principles that govern the workings of the ECB are independence, transparency and accountability.
  • Its functions are:
    • Defining and implementing the monetary policy of the euro area.
    • Performing operations of currency exchange.
    • Possessing and administering the official foreign currency reserves of the countries of the euro area.
    • Promoting the smooth operation of payment systems.
    • Authorising the issue of banknotes.
    • Compiling statistical information.
    • Monitoring the financial system.
    • Cooperating with other European and international organisations within the scope of their respective competences.

Videos

External Link

Educative Games

  • > 15 Monetary Policy (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)
  • > 15 Inflation Island (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)
  • > 15 Top floor (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)