European Union and ECB. Created by Jacopo and Alessandro.

After the Second World War the leaders of the most important European States didn't want another world warfare.

They created the the European Coal and Steel Community for sharing in peace the resources in 1952.

In 1958, with the trades of Rome, the European Economic Community was created.

After the EEC creation goods could circolate without problems.

Let's speak about the ECB.

The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro.

The ECB's main task is to maintain price stability in the euro area.

The €uro.

The euro was launched on 1 January 1999, when it became the currency of more than 300 million people in Europe. For the first three years it was an invisible currency, only used for accounting purposes.

Euro cash was not introduced until 1 January 2002, when it replaced the banknotes and coins of the national currencies.

The President.

The President of The European Central Bank is Mario Draghi, he is the third President of the ECB.

Mario Draghi is an Italian economist who has served as President of the European Central Bank since November 2011.

He has served as Chairman of the Financial Stability Board from 2009 to 2011 and Governor of the Bank of Italy from 2005 to 2011.

Decision-making.

The Governing Council is the main decision-making body of the ECB. It consists of the six members of the Executive Board and the governors of the national central banks of the 19 euro area countries.

There are also three other making-decision bodies:

  • Executive Board; formed by the President, the Vice-President and 4 other members.
  • General Council; formed by the President, the Vice-President and all the Governators of the Central Banks of the 28 EU members.
  • Supervisory Board; formed by the Chair, the Vice-Chair, four ECB from rapresentatives and representatives of national supervisors.
Created By
Jacopo Fortina
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