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The European Central Bank
Presentation by:
Ravi Chidar
ORGANISATION
The ECB is the central bank for Europe's single currency, the euro. It was established as the core of the Eurosystem and the European System of the Central Banks. It has legal personality under public international law.
TASKS
Basic tasks– Monetary policy
– Foreign exchange operations
– Portfolio management
– Payment systems
Further tasks– Banknotes
– Statistics
– Financial stability & supervision
– International and European cooperation
DECISION MAKING
Governing Council
Executive Board
General Council
INDEPENDENCE
Price stabilityEuropean Community institutions and
states have no influenceOwn budgetProhibited for granting loans to
Community bodiesFunctionally independent
TRANSPARENCY
Central bank provides to public all relevant information
Helps public to understand monetary policy- more credible and effective
CredibleSelf-disciplinedPredictable
ACCOUNTABILITY
Precise reporting obligationsMonthly BulletinWeekly Financial StatementAnnual Report – presented to
- European Parliament- Council of the European Union- European Commission- European Council
HISTORY PREPARATION OF ECONOMIC AND MONETARY UNION
– 1969: Barre plan
– 1970: Werner report
– 1979: EMS (European Monetary System)
– 1986: Single European act
– 1988: Delors Report
HISTORYTHREE STAGES TO ECONOMIC AND MONETARY UNION
– Stage 1:• 1.July 1990 – Abolition of all restrictions on the movement of capital
– Stage 2: • 1.January 1994 – Establishment of the European Monetary Institute
– Stage 3: • 1.January 1999 – fixing of conversion rates, ECB responsible for the monetary policy
JOB OPPORTUNITIES
Own career developmentDifferent skills and knowledgeMany training programs
TRAINING PROGRAM
Launguage coursesInter personal skillsTask-oriental skillsManagment and Leadership skills.Tailor made coursesExtra training program
MOBILITY SCHEMES
MeetingsWorking methods and structures of
other European institutions
JOB OPPORTUNITIES
Irrespective of:– age– religion– ethnic
Thank You
04/10/23
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