SUBJECTS

THE EUROPEAN CENTRAL BANK

ECONOMY

  • Contents

    • The European Central Bank (ECB) is the institution responsible for independently implementing the monetary policy of the Euro area. It was created in 1998 and has its headquarters in Frankfurt.
    • The ECB and the rest of the central banks in the Euro area form the European System of Central Banks (ESCB), which is responsible for defining EU monetary policy.
    • The main objective of the ECB is to maintain price stability within the euro area.
    • The principles that govern the workings of the ECB are independence, transparency and accountability.
    • Its functions are:
      • Defining and implementing the monetary policy of the euro area.
      • Performing operations of currency exchange.
      • Possessing and administering the official foreign currency reserves of the countries of the euro area.
      • Promoting the smooth operation of payment systems.
      • Authorising the issue of banknotes.
      • Compiling statistical information.
      • Monitoring the financial system.
      • Cooperating with other European and international organisations within the scope of their respective competences.

Debates

Based on the explanation of the possible consequences of a member state leaving the euro, discuss the advantages and inconveniences of such a measure.

6 reasons why Spain should leave the euro (es)

Videos

> 15  Youtube Channel ECB (en)

> 15  Educational videos by the ECB (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)

> 15  The European Stability Mechanism (ESM) (en, 3’53”)

> 15  How does the ESM work (fr with subtitles in en, 3’21”)

> 15  Against the European Stability Mechanism (en, 3’33”)

External Link

> 15  Educational material from the ECB (bg, da, et, cs, de, el, es, en, fr, ga, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)

> 15  Events organised for schools by the ECB (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)

Educative Games

> 15  Monetary Policy (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)

> 15  Inflation Island (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)

> 15  Top floor (bg, da, et, cs, de, el, es, en, fr, it, lv, lt, hu, mt, nl, pl, pt, ro, sl, sk, fi, sv)