Al Jazeera English
| Mar 22, 2013
The Cypriot government says the next few hours will determine the future of the country. Politicans are to debate how to stop the country from going bankrupt. The European Central Bank says they have until Monday to figure out how to raise more...
VOA News
| May 31, 2012
The European Central Bank has asked financial institutions across Europe to stand behind their struggling counterparts in Greece, Spain, and other countries caught in the euro debt crisis. Banks have an incentive to support their rivals. But wil...
ABC News (Australia)
| May 17, 2012
A caretaker government has been installed in Greece as the country prepares for a new round of elections. The technocrat interim government is not supposed to make big decisions, but events may force actions, especially in light of the continuing ...
Euronews
| Mar 2, 2012
Signed; yes. Ratified; not yet! Despite that, Europe's leaders have finally come up with the treaty they say will save the euro. The new so called fiscal compact aims to get a grip on the bloc's debts through tighter budget rules, something the ...
Al Jazeera English
| Feb 21, 2012
Eurozone finance ministers have approved a 130bn euro ($170bn) second bailout package for Greece to resolve the debt-ridden nation's immediate repayment needs. However, the deal, reached after 13 hours of tortuous talks in Brussels, is unlikely t...
Euronews
| Feb 10, 2012
Another wave of protests has erupted in Greece as the government cannot seem to please the people or the eurozone finance ministers. There were angry scenes in Athens on Friday as protesters threw missiles at police during the first day of ano...
Euronews
| Feb 7, 2012
Protests have erupted in the Greek capital with thousands of people joining strike action over the prospect of more budget cuts. Unions say the economy is being driven downwards by the government. Greece's EU partners are also frustrated...
Channel 4 News
| Dec 30, 2011
Channel 4 News is taking a look at some of the people and movements that had the biggest impact on the world in 2011. Economics Editor Faisal Islam explains why Angela Merkel changed the world in 2011, through decision and indecision.
Russia Today
| Sep 28, 2011
In Greece the government passed a new property tax in hopes of getting out of the financial mess they are in, but the people of Greece are not pleased with this proposition. Thousands have gathered in opposition to these austerity measures and Sar...
Euronews
| Aug 11, 2011
In a perfect example of how quickly confidence can evaporate, France's banks have been under pressure from growing concerns about how much money they have lent to debt laden euro zone countries and whether they will get that money back. Thei...
— Mar 31, 2012 at 02:11 pm
...European Union finance ministers and central bank governors in Copenhagen. "It is a recognition that, in general, for the world economy, the IMF...
— May 14 at 01:57 pm
...could be used to rally voters tired of Eurozone bailouts against Chancellor Angela Merkel. But Schaeuble insists a legal base for bank resolutio...
— May 8 at 09:56 am
...business model". Jörg Asmussen, from the European Central Bank, agreed that Cyprus should have acted sooner in requesting international assistan...
— Apr 26 at 07:08 pm
...by an administrator appointed by the Central Bank, under the supervision and direction of the European Central Bank since the bail-in came into ...
The European Central Bank is one of the seven institutions of the European Union listed in the Treaty on European Union. It is the central bank for the euro and administers the monetary policy of the 17 EU member states which constitute the Eurozone, one of the largest currency areas in the world. It is thus one of the world's most important central banks.
The capital stock of the bank is owned by the central banks of all 27 EU member states. The bank was established by the Treaty of Amsterdam in 1998, and is headquartered in Frankfurt, Germany. The current President of the ECB is Mario Draghi, former governor of the Bank of Italy.
The primary objective of the European Central Bank is to maintain price stability within the Eurozone, which is the same as keeping inflation low and preventing deflation. The Governing Council aims to keep inflation below, but close to, 2% over the medium term. Unlike other central banks, for instance, the Federal Reserve System, the ECB has a single primary objective, with other objectives subordinated to it.
The basic tasks of the ECB are to define and implement the monetary policy of for the Eurozone, to conduct foreign exchange operations, to take care of the foreign reserves of the European System of Central Banks and to promote smooth operation of the financial market infrastructure under the TARGET2 payments system and the technical platform for settlement of securities in Europe.
(via Freebase)
