The European Central Bank
History
Its functions
Monitors price trends and assures stability
Authorises production of euro banknotes
Supports economic growth, financially helping members
Decision-making bodies
Executive Board
Governing Council
Location
Frankfurt, Germany
1990: Co-operation between central banks
1994: Establishment of the European Monetary Institute
1999: Conduct of the single monetary policy by the European System of Central Banks
General Council
Eurozone
Supervises financial markets and institutions
Executive Board + governor of national central banks
Runs the ECB, President and other 4 members
Cordination role
President: Christine Lagarde
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EURO
1 January 2001: The new currency becomes the Euro
The euro (symbol: €; code: EUR) is the official currency of 19 out of the 27 member states of the European Union