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