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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 president heads the executive board, Governing Council and General Council of the ECB, and represents the bank abroad, for example at the G20. The officeholder is appointed by a qualified majority vote of the European Council, de facto by those who have adopted the euro, for an eight-year non-renewable term. [2]
The European Central Bank (ECB) is required by the Treaties of the European Union to have its seat within the city limits of Frankfurt, the largest financial centre in the eurozone. [7] The ECB previously resided in the Eurotower and, as its duties increased due to countries joining the eurozone, in three further high-rise buildings nearby ...
The primary goal of the ECB is to maintain price stability, defined as keeping the year on year increase HICP target on 2% over the medium term. [1] In order to do that, the ECB can control the short-term interest rate through Eonia , the European overnight index average, which affects market expectations.
Reverso Context is an online and mobile application combining big data from large multilingual corpora to allow users to search for translations in context. [12] [13] These texts are sourced mainly from films, books, and governmental documents, allowing users to see idiomatic usages of translations as well as synonyms and voice output.
CBL is student centred approach to teaching and learning, utilising scenarios to replicate the social and political context of the students working/or potential working environment [1] In the United Kingdom, CBL is often referred to as the Salters' approach [2] due to the efforts of the Salters' Company in creating teaching material in the ...
Key Word In Context (KWIC) is the most common format for concordance lines. The term KWIC was coined by Hans Peter Luhn . [ 1 ] The system was based on a concept called keyword in titles , which was first proposed for Manchester libraries in 1864 by Andrea Crestadoro .
Abbreviation: IMF: Formation: 1 July 1944; 80 years ago (): Type: International financial institution: Purpose: Promote international monetary co-operation, facilitate international trade, foster sustainable economic growth, make resources available to members experiencing balance of payments difficulties, prevent and assist with recovery from international financial crises [1]