How the ecb work?

Answer 1

The basic tasks that they carry out can be summarised as:

• to define and implement monetary policy for the euro area;
• to conduct foreign exchange operations and to hold and manage the official foreign reserves of the euro area countries;
• to issue banknotes in the euro area and
• to promote the smooth operation of payment systems.

Further tasks are:

• to collect statistical information either from national authorities or other financial institutions and
• to review developments in the banking and financial sector.