01/06/1998 The European Central Bank is founded in Brussels
The European Central Bank
The History of the European Central Bank
ECB and the Eurosystem explained in 3 min.
What is the role of the European Central Bank? | IG Explainers
The ECB formally replaced the EMI in 1998 by virtue of the Treaty on European Union, however it did not exercise its full powers until the introduction of the euro, signalling the third stage of EMU. The bank was the final institution needed for EMU, as outlined by the EMU reports of Pierre Werner and President Jacques Delors.
Response to the European debt crisis
Securities Market Programme
Reaction to the Irish banking crisis
Long-term refinancing operation
Outright Monetary Transactions
Mandate and inflation target
Monetary policy tools
Regulatory reliance on credit ratings
Difference with US Federal Reserve
An independence that would be the source of a democratic deficit.