In the European Union (EU), the European Central Bank (ECB) is the institution that administers the monetary policy of the eurozone member states, giving it great power as a world central bank. Headquartered in Frankfurt, Germany, the ECB was established in 1998 by the Treaty of Amsterdam. As one of its primary tasks, the ECB controls and issues the currency of the EU; the euro. Mario Draghi is the current President of the ECB.
On Monday June 22nd, Greece extended an olive branch to its European creditors by proposing structural reforms to its welfare state.European markets took a dive last week when negotiations stalled over how to best reform Greece’s pensions system. International Monetary Fund (IMF) negotiators, backed by the EU and Germany, insisted. Read More
The most important instrument in the European Central Bank’s (ECB) crisis-fighting tool chest has been approved by the EU’s highest court, giving authorities the equipment they need to fight a potential financial crisis in Europe.On Tuesday, June 16th, in a precedent setting decision, the EU’s highest court approved a sweeping. Read More
Negotiations between Greece and its European creditors fell apart on Sunday as delegates came to an impasse over spending cuts. To fund the interest payments on its debt to the International Monetary Fund (IMF), Greece must find a resolution before June 30, 2015. The European Union (EU) ceased its aid program to Greece 10 months ago,. Read More
European Central Bank (ECB) President Mario Draghi said on Wednesday, June 3, 2015 in Frankfurt that the bank would maintain a steady policy and outlook through bond market volatility. He also said that the ECB is ready to provide more economic stimulus to ensure it meets its inflation target. (Source: European Central Bank, June 3,. Read More
On Tuesday, May 19, the euro fell almost one percent against the U.S. dollar. This was mainly due to a top-ranking executive at the European Central Bank (ECB) signaling that the central bank will increase the pace of its bond buying. (Source: Financial Times, May 19, 2015.)The ECB has embarked on quantitative easing (purchasing bonds). Read More