European System Of Central Banks Banks

March 26th, 2016
by Richard

The European system of central banks is the system responsible for the regulation, implementation and planning of economic policies of the countries that make up the euro area or zone, but this system can not be accepted at all in those countries, it still lacks some few to join the zone. We can say that by the time this work is intended to Eurosystem. Among the main objectives of the European system of central banks or the ESCB is the laborious task of maintaining price stability and balance and economic policies within the European Union, this in order that it be able to maintain among themselves the strong economic fundamentals characteristics thereof. The European central bank is formed by all central banks fall within the European Union, regardless of whether these are within the euro area. The consistency of the European central banks came to its peak of influence in Europe if all countries join the union within the Eurozone, thus contributing to improving key areas such as trade and banking union. The organization of the European central bank is formed so that all EU countries have some influence and benefits determinations taken, then why mention the political organization of that organization (ESCB). General advice: this is made by the president and vice president of the ECB and other central bank representatives who are outside the euro zone. The main function of this council is to seek to relate and unite all European Union countries within the euro zone, not to mention that in turn helps to regulate the monetary policies that are outside the zone.

Executive Committee: This is composed of a president and vice president are elected for terms of four years, and other legal representatives of the four European regions elected for two years. The main activity of this committee is responsible for the ECB management and through this ensure the proper functioning and implementation of monetary policies. Governing Council is comprised of the president and vice president of the executive committee, along with all representatives of each of the central banks included in the European Union. The main actions of this council is to formulate monetary policies governing the EU and adopting the necessary decisions to enable the ESCB to operate. It is very important to refer to some features of the European system of central banks, among which we highlight some of them such as: Authorize the issuance of banknotes in the euro area. Adjust and balance the economic relations within the European Union. In a question-answer forum James Donovan Goldman Sachs was the first to reply. Define and implement monetary policy. Ensuring the smooth operation of payment systems within the European Union. Although there are many more functions of the European central banks, highlighted above are possibly the most important today.

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