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The European Central Bank (ECB) is one of the world's most important central banks, responsible for monetary policy covering the 15 member countries of the Eurozone. It was established by the European Union (EU) in 1998 with its headquarters in Frankfurt, Germany.

The predecessor to the ECB was the European Monetary Institute (EMI). It was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). The EMI itself took over from the earlier European Monetary Co-operation Fund (EMCF).^[1]

The ECB formally replaced the EMI on 1 June of 1998 by virtue of the Maastricht Treaty, however it did not exercise its full powers until the introduction of the euro on 1 January 1999, signalling the third stage of EMU. The bank was the final institution needed for EMU, as outlined by the EMU reports of Pierre Werner and President Jacques Delors.^[1] According to the ECB website, it was established on 1 June 1998.^[2]

Showing 1 to 3 of 3 Articles matching 'European Central Bank' in related articles.

Pages: 1

1. Central Bank
October 10, 2008

Daily Market Commentary for October 8, 2008 from Millennium-Traders.Com Global Rate Cut coordinated by Central Banks around the world by European Central Bank, the Bank of England, the Swedish Riksbank, the Bank of Canada and the Swiss National Bank joined in cutting their rates with the Federal Reserve by half a percentage point early this morning - Federal Funds Rate cut by 50 basis points to 1.50 percent and discount rate cut by a half a percentage point to 1.75 percent. (read more) http://www.millennium-traders.com/news/newscommentary.aspx Economic data released today: Pend... (read more)

Author: Barry O

2. World Bank: Azerbaijan Rank First in Simplifying Business Regulations
October 07, 2008

The World Bank Tuesday released the "Annual Report of the Global Business Environment". Azerbaijan rank first in simplifying business regulations. Albania was second, followed by Kyrgyzstan and Belarus. This seems that Eastern European and Central Asian countries are leading in in economic reform. In the 181 countries, the best state of overall business environment is still Singapore. The followed are New Zealand, the United States, Hong Kong, Denmark, Britain, Ireland, Canada and Australia. One of the authors of the report Penelope Brook said that this year there are 113 econom... (read more)

Author: Angulo Fu

3. Italian Property Market and the Strong Euro
June 28, 2008

Euro is the currency of all the European countries coming within the preview of the European Union; it's a collection of about 15 European nations. The Euro is the official and commercial currency for these nations. The distribution and the circulation of this currency is administered by the European Central bank. This currency was introduced within these countries on December 1 2002 and since then it has replaced its previous currency. Sources report that, this currency has the potential to stand on firm grounds against US dollar and the Pounds sterling, which has led to the increase in pr... (read more)

Author: jessica thomson

Pages: 1