The European Central Bank

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
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JOB OPPORTUNITIES

• Irrespective of
• age
• religion
• ethnic

GREGA MEDVED