The European Central Bank: Powers, Policies and Problems

Article Abstract:

Keywords: European Central bank, Euro Currency Area, Reserves, Interest rates With the advent of the European Monetary Union (EMU) has come the formation of the European Central Bank (ECB). The purpose of this bank is to formulate and implement a single monetary policy for the countries that currently comprise the Euro Currency Area. This mandate is awesome. Though designed to be politically independent, the bank must deal with eleven sovereign entities that have hitherto relied upon their own monetary and fiscal institutions and policies to tackle economic problems. The success of the euro as an accepted currency and further European integration depends in large part upon the effective operation of the ECB.

United States, Research, Finance

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The European Central Bank: Powers, Policies and Problems

Article Abstract:

The European Central Bank (ECB) was formed by the 15-member European Union in Maastricht and in 1999 the Euro as a single currency for 11 member countries was introduced. The ECB is supposed to have independent control of the supply of euros and short-term interest rates but its authority is quite limited and this is seen as a potential source of problems arising from members' varying influences.

Organizational history, Brief Article, Interest rates

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The European Central Bank: Powers, Policies and Problems

Article Abstract:

Wim Duisenberg was elected as President of the European Central Bank after its formation. The bank will control the supply of the Euro, formulate its monetary policy, set and manage its short term interest rates. The bank however, needs more powers to achieve larger objectives independent of the influences of member countries.

Laws, regulations and rules, Appointments, resignations and dismissals, Money supply, European Union. European Central Bank, Duisenberg, Wim

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