Eurosystem

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The Eurosystem consists of the European Central Bank and the central banks of the member states that belong to the eurozone (their function is to apply the monetary policy decided by the ECB). The primary objective of the Eurosystem is price stability. Secondary objectives are financial stability and financial integration. The mission statement of the Eurosystem says that the ECB and the national central banks jointly contribute to achieving the objectives.

The Eurosystem is distinct from the European System of Central Banks, which is the group of central banks that includes the ECB and the central banks of all European Union member states, including those of countries not included in the eurozone. The ESCB's objective is price stability throughout the European Union. Secondarily, the ESCB's goal is to improve monetary and financial cooperation between the Eurosystem and the member states outside the eurozone.

Read more about EurosystemCurrent Members

Other articles related to "eurosystem":

European System Of Central Banks - Functions
... For this reason the Eurosystem (which excludes all the NCBs which have not adopted the euro) became the institution in charge of those tasks which in principle had to be managed by the ESCB ... European System of Central Banks and of the European Central Bank, the primary objective of the Eurosystem is to maintain price stability (in other words control inflation) ... Without prejudice to this objective, the Eurosystem shall support the general economic policies in the Community and act in accordance with the ...
European System Of Central Banks - Member Banks
... Slovenije Marko Kranjec Spain Banco de España Luis María Linde Non-eurozone/Eurosystem Bulgaria Българска народна банка (Balgarska ...
Euro - Issuing Modalities For Banknotes
... Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated ... The ECB issues 8% of the total value of banknotes issued by the Eurosystem ...
European System Of Central Banks - Organization
... The process of decision-making in the Eurosystem is centralized through the decision-making bodies of the ECB, namely the Governing Council and the Executive Board ... take the decisions necessary to ensure the performance of the tasks entrusted to the Eurosystem to formulate the monetary policy of the euro area, including, as ... The Eurosystem is independent ...