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EUROPEAN CENTRAL BANK - Coggle Diagram
EUROPEAN CENTRAL BANK
What does the ECB do?
ensures that financial markets & institutions are well supervised by national authorities, and that payment systems work well
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manages the eurozone's foreign currency reserves and the buying or selling of currencies to balance exchange rates
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What is its objective
It is to maintain price stability, i.e. to safeguard the value of the euro.
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How does the ECB work?
The ECB works with the national central banks of all EU countries. Together they form the European System of Central Banks. It leads cooperation between central banks in the eurozone (Eurosystem)
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It is born on 1 June 1998. When it started to prepare for the single currency, the euro.
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