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Central bank for the Eurozone - Coggle Diagram
Central bank for the Eurozone
19 EU member states using the euro
Established by the Treaty of Amsterdam
Owned by the 27 EU national central banks
Headquarters: Frankfurt-am-Main, Germany
Current President: Christine Lagarde
Governance
Governing Council (main decision-making body):
Decides monetary policy changes
Composed of:
6 Executive Board members
Governors of 19 Eurozone national central banks
Currency ECB has exclusive right to issue euro banknotes
Member states can issue euro coins, but only with ECB authorization
Legal & Financial Structure
Governed by European law but structured like a corporation
Shareholders: National central banks of EU member states
Capital: €11 billion
Shares are non-transferable and cannot be used as collateral
Capital allocation key based on:
Member states' population
Member states' GDP
Adjusted over time