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CONTENTS Introduction3 1Composition of the ECB4 2Independence of the ECB5 3Capital of the ECB6 4Monetary policy of the ECB6 5Price-stability13 6Managing the Euro currency13 7TARGET14 8The impact of the ECB on the globalisation15 Conclusion16 Bibliography17 Annex 119 INTRODUCTION In order to form a more perfect Single Market provide a high level of employment promote convergence of economic performance and secure the sustainable and non-inflationary growth 11 now they are 12 European countries have established a European Central Bank ECB The ECB was founded on the 1st June 1998 and it derived from the European Monetary Institute EMI which played the main role in preparing for the launch of the Euro The ECB and 12 central banks of the countries that adopted the Euro make the Eu-rosystem It is headquartered in Frankfurt am Main First of all in our project we will discuss the main bodies of the ECB that participate in the decision-making process and as well conduct other tasks Secondly we will discuss the level of independence of the ECB and the composition of its capital Then we will pass to the discussion of the main task of the ECB which is to conduct the monetary policy of the Euro zone In this context we will analyse monetary instruments and tools the ECB is using to pursue its strategies We will also talk about how the ECB manages the Euro currency the essence of its primary goal of price-stability and the role of the TARGET payment system The final part of our project will be dedicated to the impact of the ECB policies in the context of globalisation 1 COMPOSITION OF THE ECB 1 1 The Governing Council The highest decision-making body of the ECB is the Governing Council It consists of the six members of the Executive Board and the 12 governors of the national central banks of the Euro area
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