The European Central Bank ?
every country has a central bank issuingcurrency managing monetary policy andmaking sure that the banking system is
well-oiled and functioning smoothly withthe creation of the euro Europeanleaders decided that the currency needed
it civilian central bank headquarteredin Frankfurt it has a presidentcurrently it's Italian Mario Draghi the
president is part of an Executive Boardwhich oversees day-to-day business itcomprised of former National Bank
governors and high-level bankingexecutives chosen by the EuropeanCouncil the ECB Dwarfs all other banks
in Europe overseeing the MonetaryAffairs of the 19 countries of theeurozone it's also a supranational
institution independent of member statecontrol but accountable to the publicits main role is to maintain price
stability in the eurozone it has to keepthe rate of inflation close to or belowtwo percent it is also exclusively in
charge of issuing Euros and settingmonetary policy for the eurozone at theheight of the financial crisis in 2008
the ECB had to navigate through a fewtough years bailing out eurozonecountries in economic downturn after the
crisis relented a fail-safe againstfurther crises was set up the bankingunion moved Europe away from bailing out
banks to bailing them inand the ECB's role in all of this tocontrol Europe's banks under the singlesupervisory mechanism .