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The European Central Bank

The European Central Bank. Presentation by: GROUP 4. 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.

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The European Central Bank

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  1. The European Central Bank Presentation by: GROUP 4

  2. 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.

  3. European System of Central Banks • ECB • all NCB • Eurosystem • ECB • NCB (in Euro area) • Euro area • Countries which have adopted euro JERNEJ VEGELJ

  4. TASKS • Basic tasks • Monetary policy • Foreign exchange operations • Portfolio management • Payment systems • Further tasks • Banknotes • Statistics • Financial stability & supervision • International and European cooperation JERNEJ VEGELJ

  5. DECISION MAKING • Governing Council • Executive Board • General Council JERNEJ VEGELJ

  6. INDEPENDENCE • Price stability • European Community institutions and states have no influence • Own budget • Prohibited for granting loans to Community bodies • Functionally independent MILENA STOPAR

  7. TRANSPARENCY • Central bank provides to public all relevant information • Helps public to understand monetary policy- more credible and effective • Credible • Self-disciplined • Predictable MILENA STOPAR

  8. ACCOUNTABILITY • Precise reporting obligations • Monthly Bulletin • Weekly Financial Statement • Annual Report – presented to • European Parliament • Council of the European Union • European Commission • European Council MILENA STOPAR

  9. 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 NINA GRAMC

  10. HISTORY • THREE 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 NINA GRAMC

  11. EU ENLARGEMENT • New contries joined the EU on 1 May 2004 • Bulgaria and Romania are classified as acceding countries • Negotiations with Croatia and Turkey • Joining the euro area • The new countries will adopt the euro • The current euro area members had to fulfil the same criteria ALJA NOVAK

  12. EU ENLARGEMENT • Covergence reports • The European Central Bank contributes to the decision-making on future euro area members by preparing convergence reports • Participation in decision-making bodies • The Governors of the central banks of the new EU contries are now members of the General Council of the ECB ALJA NOVAK

  13. EU ENLARGEMENT • Euro area ALJA NOVAK

  14. JOB OPPORTUNITIES • Own career development • Different skills and knowledge • Many training programs GREGA MEDVED

  15. TRAINING PROGRAM • Launguage courses • Inter personal skills • Task-oriental skills • Managment and Leadership skills. • Tailor made courses • Extra training program GREGA MEDVED

  16. MOBILITY SCHEMES • Meetings • Working methods and structures of other European institutions GREGA MEDVED

  17. JOB OPPORTUNITIES • Irrespective of: • age • religion • ethnic GREGA MEDVED

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