Who is in charge of the Eurosystem?

Lorenzo Bini Smaghi and Daniel Gros
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Lorenzo Bini Smaghi: Italian Treasury

Chapter 1 in Open Issues in European Central Banking, 2000, pp 5-28 from Palgrave Macmillan

Abstract: Abstract Who is responsible for the euro? The obvious answer should be the European Central Bank (ECB), but things are not so simple. The ECB is just one component of a broader entity, the Eurosystem, which comprises also the National Central Banks (NCBs) of the — initially 11 — countries that have adopted the euro.1 The main tasks of the Eurosystem are to define and implement the monetary policy of the Eurozone, conduct foreign exchange operations, hold and manage the foreign exchange reserves of the member states that have adopted the euro and promote the smooth operation of the payment system (see Article 3 of the Statute in Annex II).

Keywords: Monetary Policy; Central Bank; Euro Area; European Central Bank; Foreign Exchange Reserve (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98188-7_2

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DOI: 10.1057/9780333981887_2

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