Eurosystem

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National Bank of Slovakia, Eurosystem member since 2009
Not to be confused with the European System of Central Banks.

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency. The Eurosystem consists of the European Central Bank and the central banks of the 19 member states that are part of the eurozone. The national central banks apply the monetary policy of the ECB.[1] The primary objective of the Eurosystem is price stability.[2] Secondary objectives are financial stability and financial integration.[3] The mission statement of the Eurosystem says that the ECB and the national central banks jointly contribute to achieving the objectives.[4]

The Eurosystem is distinct from the European System of Central Banks (ESCB), which is the group of central banks that includes the ECB and the central banks of all European Union member states, including those of countries not part of the eurozone. The ESCB's objective is price stability throughout the European Union. Secondarily, the ESCB's goal is to improve monetary and financial cooperation between the Eurosystem and member states outside the eurozone.[1]

Current members[edit]

National central banks[edit]

See also[edit]

References[edit]

External links[edit]