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European Central Bank | ORGANIZATION

 

The European Central Bank (ECB) is one of the world's most important central banks, responsible for monetary policy covering the 16 member States of the Eurozone. It was established by the European Union (EU) in 1998 with its headquarters in Frankfurt, Germany.

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In this photo released by China's Xinhua news agency, fireworks explode over the People's Square in Giuyang, capital of southwest China's Guizhou Province early Sunday, Feb. 18, 2007, the New Year's Day on China's lunar calendar. China
International Monetary Fund managing director Dominique Strauss-Kahn (L), and EU commissioner for Internal Market and Services Michel Barnier (R) look on during a high-level inter-parliamentary debate organised with national parliament members of the economic and finance committees on March 17, 2010 at the European headquarters in Brussels. During the meeting International Monetary Fund head Dominique Strauss-Kahn voiced concern at the lack of will among major nations to work together to build a coordinated system of financial regulation. International Monetary Fund
Greek Prime Minister George Papandreou (L) and European Commission President Jose Manuel Barroso (R) give a joint press conference after their working session on March 17, 2010 at the EU headquarters in Brussels. The Greek Prime Minister refused to rule out an appeal for aid to the IMF, if European backing is insufficient to resolve its debt crisis.'If we realise that we indeed will be borrowing at extremely high rates. .. there are other options,' Papandreou told reporters in Brussels after talks with the head of the European Commission, which is supervising deficit reduction measures. European diplomatic sources have said Greece was seeking 20-25 billion euros through eurozone aid. European Commission
European Union's Commissioner for Competition Joaquin Almunia (R) welcomes French Finance Minister Christine Lagarde prior to their bilateral meeting at the EU headquarters in Brussels on March 18, 2010. European Union
From left, former Merrill Lynch Chief Executive Officer E. Stanley O'Neal, John Finnegan, Chair of Management Development and Compensation Committee for Merrill Lynch, and Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation, arrive on Capitol Hill in Washington, Wednesday, June 10, 2009, to testify before the House Oversight and Government Reform hearing examining the compensation and retirement packages granted to the CEOs of corporations deeply involved in the current mortgage crisis. Merrill Lynch
Manchester City's Robinho, left, reacts after scoring a goal with fellow team members Stephen Ireland, center, and Micah Richards, right, during their English Premier League soccer match against Blackburn at Ewood Park Stadium, Blackburn, England, Sunday, Dec. 28, 2008. Ireland
Greek Prime Minister George Papandreou arrives for a cabinet meeting in parliament on proposed tax reforms, in Athens on Thursday, March 18, 2010. The center-left government has pledged to hike taxes on the rich and force all Greeks to declare their full income, in a bid to fight rampant tax evasion and redress the debt-ridden country's finances. Taxi drivers and many petrol station owners went on strike Thursday to protest the draft legislation, which will force them to issue receipts. George Papandreou
Australian Director Warwick Thornton attends the opening of the London Australian Film Festival in London, on March 18, 2010. London
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PALM BEACH, FL - FEBRUARY 25: Rosa Morales works with a Bank of America negotiator as she tries to restructure her mortgage loan during a 'Save the Dream' tour stop by the Neighborhood Assistance Corporation of America at the Palm Beach Convention Center on February 25, 2010 in Palm Beach, Florida. The tour, which makes stops around the United States, has on hand hundreds of mortgage counselors from various mortgage companies as people try to avoid foreclosure on their homes. Bank of America
European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels. Jean-Claude Trichet
Federal Reserve Board Chairman Ben Bernanke testifies during a House Financial Services Committee hearing on March 17, 2010 on Capitol Hill in Washington DC. Bernanke told the committee that the Federal Reserve was best-placed to monitor swathes of the banking sector, as sweeping reforms -- backed by US President Barack Obama -- sought to redefine the Fed's role. Federal Reserve
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EU Council President Herman Van Rompuy (R) flanked by Georgian Prime Minister Nika Gilauri give a joint press conference after their working session on March 16, 2010 at the EU headquarters in Brussels. Herman Van Rompuy
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The Wall Street is seen sign outside the New York Stock Exchange on October 6, 2008 in New York. Wall Street tumbled after the opening bell as fallout from the credit crisis triggered concerns about the economy and the Dow fell below 10,000 for the first time in four years. Wall Street
BRUSSELS, BELGIUM - MARCH 18: Hamburg fans are seen during the UEFA Europa League round of 16 second leg match between RSC Anderlecht and Hamburger SV at Constant Vanden Stock Stadium on March 18, 2010 in Brussels, Belgium. Brussels
Federal Reserve Board Chairman Ben Bernanke testifies during a House Financial Services Committee hearing on March 17, 2010 on Capitol Hill in Washington DC. Bernanke told the committee that the Federal Reserve was best-placed to monitor swathes of the banking sector, as sweeping reforms -- backed by US President Barack Obama -- sought to redefine the Fed's role. Ben Bernanke

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European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet (L) Greek Finance Minister Giorgios Papaconstantinou (C) and EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet (L) Greek Finance Minister Giorgios Papaconstantinou (C) and EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet (R) and Greek Finance Minister Giorgios Papaconstantinou (L) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet (R) and Greek Finance Minister Giorgios Papaconstantinou (L) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank President Jean Claude Trichet, left, shakes hands with European Council President Herman Van Rompuy at the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

CloseCaption
European Central Bank President Jean Claude Trichet, left, shakes hands with European Council President Herman Van Rompuy at the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

AP 

European Central Bank President Jean-Claude Trichet closes his eyes as photographers and cameramen surround him a the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

CloseCaption
European Central Bank President Jean-Claude Trichet closes his eyes as photographers and cameramen surround him a the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

AP 

Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker (R) European Central Bank president Jean Claude Trichet (C) and Greek Finance Minister Giorgios Papaconstantinou (L) arrive prior to an Eurogroup council on March 15,2010 at the EU headquarters in Brussels.

CloseCaption
Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker (R) European Central Bank president Jean Claude Trichet (C) and Greek Finance Minister Giorgios Papaconstantinou (L) arrive prior to an Eurogroup council on March 15,2010 at the EU headquarters in Brussels.

AFP 

Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker (R) and European Central Bank president Jean Claude Trichet arrive prior to an Eurogroup council meeting on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker (R) and European Central Bank president Jean Claude Trichet arrive prior to an Eurogroup council meeting on March 15, 2010 at the EU headquarters in Brussels.

AFP 

Greek Finance Minister Giorgos Papakonstantinou, right, walks behind Luxembourg's Prime Minister and Chairman of the Eurogroup Jean Claude Juncker, center, and the President of the European Central Bank Jean-Claude Trichet as they arrive for a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

CloseCaption
Greek Finance Minister Giorgos Papakonstantinou, right, walks behind Luxembourg's Prime Minister and Chairman of the Eurogroup Jean Claude Juncker, center, and the President of the European Central Bank Jean-Claude Trichet as they arrive for a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

AP 

Greek Finance Minister Giorgos Papakonstantinou, right, ween with the President of the European Central Bank Jean-Claude Trichet, at the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers met to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

CloseCaption
Greek Finance Minister Giorgos Papakonstantinou, right, ween with the President of the European Central Bank Jean-Claude Trichet, at the start of a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers met to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

AP 

European Central Bank president Jean Claude Trichet sets up prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet sets up prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet (L) EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15,2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet (L) EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15,2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet (L) and Greek Finance Minister Giorgios Papaconstantinou talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet (L) and Greek Finance Minister Giorgios Papaconstantinou talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank President Jean-Claude Trichet, arrives at the Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers are meeting to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

CloseCaption
European Central Bank President Jean-Claude Trichet, arrives at the Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers are meeting to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it can't borrow from wary bond markets.

AP 

European Central Bank President Jean-Claude Trichet, arrives at a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it cannot borrow from wary bond markets.

CloseCaption
European Central Bank President Jean-Claude Trichet, arrives at a Eurogroup meeting in Brussels, Monday, March 15, 2010. Eurozone finance ministers meet to check whether Greece's austerity program goes far enough to reduce its massive deficit, amid talk that they are preparing a rescue package for the country if it cannot borrow from wary bond markets.

AP 

Launch Gallery0 of 0

"We had the good news of having our borrowing ... at a rate which was lower than previously, but still not low enough"


George Papandreou Mar 18 2010 9:52 PM from The New Republic

"She's playing a lot to her domestic audience and presenting the image of (Germany) not getting rolled over by the Greeks"


Simon Johnson Mar 18 2010 8:41 PM from Macleans.ca

"We are basically under an IMF programme, whatever you want to call it"


George Papandreou Mar 18 2010 4:04 PM from Guardian Unlimited

"It's an opportunity to make a decision next week at the summit ... This is an opportunity we should not miss. When you have that instrument in place, that could be enough to tell the markets hands off, no speculation, let this..."


George Papandreou Mar 18 2010 2:02 PM from Financial Post

"Everyone is determined to clean up the situation of their public accounts"


Jean-Claude Trichet Mar 17 2010 9:03 PM from The Age

"I have always said that I do not comment on absurd hypotheses"


Jean-Claude Trichet Mar 17 2010 9:03 PM from The Age

"The problem has to be solved from the Greek side and everything that is being considered has to be oriented in that direction"


Angela Merkel Mar 17 2010 6:39 PM from Business Week

"The first step is centralising the CDS trading"


Mario Draghi Mar 17 2010 6:29 PM from Reuters Blogs

"We want to retain a globally integrated financial market. That is a prerequisite for stability and growth"


Mario Draghi Mar 17 2010 5:48 PM from CNBC

"But there is one area where we have to have exactly the same rules everywhere, in capital and liquidity regulation. That is maximum harmonization area"


Mario Draghi Mar 17 2010 5:14 PM from Reuters
  of  

European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet reads a newspaper during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet grimaces during a coffee break prior to the second session of the ECOFIN council on March 16, 2010 at the EU headquarters in Brussels.

AFP 

European Central Bank president Jean Claude Trichet (L) Greek Finance Minister Giorgios Papaconstantinou (C) and EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

CloseCaption
European Central Bank president Jean Claude Trichet (L) Greek Finance Minister Giorgios Papaconstantinou (C) and EU commissioner for Economic and Monetary Affairs Olli Rehn (R) talk prior to an Eurogroup council on March 15, 2010 at the EU headquarters in Brussels.

AFP 

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