PL EN


2005 | 3(10) | 113-141
Article title

DECISION-MAKING PROCESS OF EUROPEAN CENTRAL BANK

Title variants
Languages of publication
PL
Abstracts
EN
The paper presents the monetary policy and the principles of its formulating in the EU and the euro zone with the special emphasis on decision-making process in the commonwealth issues performed by European Central Bank (ECB). In order to enable the ECB to function properly it has been provided with a lot of independence which falls into 4 categories: institutional, personal, financial and functional. The organizational structure of the ECB is composed of: the Governing Council - the highest managerial body, the Executive Board the executive body and the General Council. Each of the above mentioned bodies has its own procedures of decision making, methods of voting relevant to their tasks and competence. The major task of the ECB together with the central banks of the EU members states of which ECB is composed is to keep prices stable. Summing up, the procedures of action used by ECB have been shaped in such a way which prevents political authorities from putting any pressure on the Bank and enable the Bank to make decisions effectively. At the same time, the decision making process concerning the monetary policy has been centralized in ECB whereas the executive functions have been decentralized on the level of national banks.
Year
Issue
Pages
113-141
Physical description
Document type
ARTICLE
Contributors
  • A. Jankiewicz-Maciejewska, Bank Millenium, Warszawa, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
06PLAAAA01132618
YADDA identifier
bwmeta1.element.52c957ae-2286-3a8a-b0fa-9d7b72fc94b9
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.