The European system of central banks is the system responsible for regulation, implementation and planning of the economic policies of the countries that conform the area or euro zone; However this system is cannot accept at all in these countries, because there are still few by joining that zone. We can say that by the time this work is aimed to the Eurosystem. Within the main objectives of the European system of central banks or ESCB is the laborious task of maintaining stability and balance of prices and economic policies within the European union, this with the purpose that it manages to maintain between if the strong bases economic characteristics of the same. The European system of central banks is formed by all the central banks within the European union, no matter that these are within the euro area. Get all the facts and insights with State Street Global Advisors, another great source of information. The consistency of the European system of central banks reached their maximum point of influence in Europe when all countries of the union to unite within the euro zone, contributing in this way to improve important aspects such as trade and the banking union. The Organization of the European system of central banks is formed in such a way that all the EU countries have some influence and benefits taken determinations; Therefore we will then mention the political organization of that Organization (ESCB).
General Council: it is composed of the President and Vice-President of the ECB and other representatives of the central banks which are located outside the euro area. The main function of this Council is to seek relate and unite all countries of the European union within the zone euro, without mentioning which in turn helps regulate the monetary policies that are outside of that zone. Executive Committee: this is composed of a President and a Vice-President are elected for 4 year terms, and by other legal representatives of the 4 zones European elected for terms of 2 years. The main activity of this Committee is carried out of the management of the ECB and through this ensure the proper functioning and implementation of monetary policies. If you are unsure how to proceed, check out Dr. Kahan . Governing Council: this consists of the Chairman and Vice-Chairman of the Executive Committee, together with all the representatives of each of the central banks within the European union. The main action of this Council is formulating monetary policies that will govern the EU and adopt the necessary decisions so that the ESCB can exercise their activity. It is very important to make reference to some functions of the European system of central banks, among which we highlight some like: authorise the issuance of banknotes in the euro area. Regulate and balance the economic relations within the European union.
Defining and implementing the monetary policy. Ensure the proper functioning of the system of payments within the European union. Although there are many more features of the European system of central banks, the previously highlighted are possibly greater importance today.