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Phase II of the ECB Project included multiple objectives and program activities which were developed by teams within the five field consortia, including technical advisors from each thematic area (accountability and impact measurement, disaster risk reduction and staff capacity) and global level technical specialists from within the ECB ...
Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
The General Council performs the tasks which the ECB took over from the EMI and which, owing to the derogation of one or more member states, still have to be performed in Stage Three of Economic and Monetary Union (EMU). The General Council also contributes to: ECB's advisory functions; Collection of statistical information
From the start of 1999, the euro is now a real currency, and a single monetary policy is introduced under the authority of the ECB. A three-year transition period begins before the introduction of actual euro notes and coins , but legally the national currencies have already ceased to exist.
Although Axel Weber was tipped as one of the possible successors, [9] he resigned from the ECB in protest at the bail out policies. Mario Draghi was chosen to become the next President of the ECB on 24 June 2011. [10] Draghi was president from 1 November 2011 until 31 October 2019 (succeeded by Christine Lagarde).
1 June 1998 31 May 2005 6 years, 364 days Term ended Otmar Issing Germany: 1 June 1998 31 May 2006 7 years, 364 days Term ended Lucas Papademos Greece: 1 June 2002 31 May 2010 7 years, 364 days Term ended Gertrude Tumpel-Gugerell Austria: 1 June 2003 31 May 2011 7 years, 364 days Term ended Jean-Claude Trichet France: 1 November 2003
European Union law is a system of rules operating within the 27 member states of the European Union (EU). It has grown over time since the 1952 founding of the European Coal and Steel Community, to promote peace, social justice, a social market economy with full employment, and environmental protection.
[9] [10] Construction was put on hold in June 2008 as the ECB was unable to find a contractor that would build the Skytower for the allocated budget of €500 million [11] [12] due to the bidding taking place at the peak of the pre-late-2000s recession bubble. A year later with prices having fallen significantly the ECB launched a new tendering ...