The European Central Bank

The European Central Bank - The European Central Bank The...

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The European Central Bank The European Central Bank (ECB) located in Frankfurt, Germany is known as one of the worlds most important central banks if not the most important. With sixteen member countries and having replaced sixteen central banks, the ECB was established in 1998 but did not fully play the role of central bank until January 1999 with the introduction of the Euro. Modeled after the old German Central bank, the ECB is governed by two bodies, the Governing Council and the Executive board and operates completely independently from any country by means of an independent budget. Another factor that helps separate the ECB from owing loyalty to any one country is that each of the governing bodies comprise of members from three or more countries and in the case of the Executive board have nonrenewable terms. The current president of the ECB is the French economist Jean-Claude Trichet who despite being a controversial choice due to his apparent want of a less independent central bank has still
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This note was uploaded on 06/20/2011 for the course ECO 363 taught by Professor Fred during the Spring '09 term at Sam Houston State University.

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The European Central Bank - The European Central Bank The...

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