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Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
The ESCB is composed of the European Central Bank and the national central banks of all 27 member states of the EU. The first section of the following list lists member states and their central banks that form the Eurosystem (plus the ECB), which set eurozone monetary policy.
The seat of the European Central Bank is situated in Frankfurt, Germany. [6] Its premises comprise a twin-tower skyscraper and the city's former Wholesale Market Hall (Großmarkthalle), with a low-rise building connecting the two. It was completed in 2014 and was officially opened on 18 March 2015.
The following is a list of past and present members of the Executive Board of the European Central Bank. A member serves for a non renewable term of eight year. Since the ECB was established in 1998, the following people have served as Executive Board members: [2] Status
The president of the European Central Bank is the head of the European Central Bank (ECB), the main institution responsible for the management of the euro and monetary policy in the Eurozone of the European Union (EU)
Both the President of the European Council and the President of the European Commission are sometimes wrongly termed the President of the European Union. Most go back to 1957 but others, such as the Presidents of the Auditors or the European Central Bank have been created recently.
European Central Bank in Frankfurt. The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The European Central Bank (ECB) has, under Article 16 of its Statute, [1] the exclusive right to authorise the issuance of euro banknotes.
1 European Central Bank. 2 Non-Eurozone currencies. 3 See also. 4 Notes. 5 References. Toggle the table of contents. Central banks and currencies of Europe. 2 languages.