BANCO CENTRAL EUROPEO MAPA MENTAL

HISTORY
1. STAGE 1
  1. Complete freedom for capital transactions
    1. Increased co-operation between central banks;
      1. Free use of the ECU (European Currency Unit, forerunner of the €)
        Improvement of economic convergence;
2. STAGE 2
  1. Establishment of the European Monetary Institute (EMI
    1. Ban on the granting of central bank credit
      1. Increased co-ordination of monetary policies
        Strengthening of economic convergence
        Process leading to the independence of the national central banks, to be completed at the latest by the date of establishment of the European System of Central Bank
        Preparatory work for Stage Three
3. STAGE 3
  1. Irrevocable fixing of conversion rates
    1. Introduction of the euro
      1. Conduct of the single monetary policy by the European System of Central BankS
        Entry into effect of the intra-EU exchange rate mechanism (ERM II
        Entry into force of the Stability and Growth PacT
PURPOSE
1. keep prices stable ,especially in countries that use the euro.
2. keep the financial system stable
3. keep inflation under control
TASKS
1. setting key interest rates for the eurozone and controlling the money supply
2. managing the eurozone's foreign-currency reserves
  1. buying or selling currencies when necessary to keep exchange rates in balance
3. helping to ensure financial markets and institutions are adequately supervised by national authorities,
  1. that payment systems function smoothly
4. authorising central banks in eurozone countries to issue euro banknotes
5. monitoring price trends and assessing the risk they pose to price stability.
STRUCTURE
1. Executive Board
  1. oversees day-to-day management.
    1. It has 6 members (1 president
      1. 1 vice-president and 4 other members
        appointed for 8 years by the leaders of the eurozone countries.
2. Governing Council
  1. defines eurozone monetary policy
    1. fixes the interest rates at which commercial banks can obtain money from the Ban
3. General Council
  1. contributes to the ECB's advisory
    1. coordination work and helps prepare for new countries joining the euro.
LOCATION
1. The bank is based in Frankfurt, the largest financial centre in the Eurozone. Its location in the city is fixed by the Amsterdam Treaty.[90]
  1. The bank moved to new purpose-built headquarters in 2014 which were designed a Vienna-based architectural office named Coop Himmelbau

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BANCO CENTRAL EUROPEO MAPA MENTAL

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