European Central Bank. Bank created to monitor the monetary policy of the 11 countries that have converted to the Euro from their local currencies. The 11 countries are: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain.
European Central Bank. The European Central Bank was established on 1 June 1998 and is situated in Frankfurt am Main, Germany. It ensures that the tasks conferred upon the Eurosystem and the European System of Central Banks (ESCB) are implemented either through its own activities pursuant to the Statute of the ESCB and ECB or through the national central banks. The ESCB comprises the ECB and the national central banks of the member states.
European Central Bank. The new Central Bank which took effect in 1998 as the successor of the European Monetary Institute with the purpose of monitoring monetary policy and the introduction of euro notes and coins in EMU. It will be the executive body of the European System of Central Banks.