The European Central Bank administers monetary policy for the
eurozone and is tasked with maintaining price stability by keeping
inflation below 2 per cent. This brief mandate belies the
complexity of managing the monetary policy for the 19 member states
of the euro, not to mention the political implications thereof.
This book sets out the history, development and day-to-day workings
of this key institutional pillar of the European Union. It assesses
its work, independence, the policies and instruments at its
disposal and the evolution of its role during, and after, the
eurozone crisis of 2010. Incomplete monetary union, Germany's
hegemonic ambitions and different economic policies from individual
member countries are shown to pose formidable challenges to the
ECB's macroeconomic management.
General
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