The Governing Council
The Governing Council meets
once a fortnight
is the main decision-making body of the ECB. It consists of
- the six members of the Executive Board, plus
- the governors of the national central banks of the 16 euro area countries.
Responsibilities
-
to adopt the guidelines and take the decisions necessary to ensure the performance of the tasks entrusted
to the Eurosystem;
-
to formulate monetary policy for the euro area. This includes decisions
relating to monetary objectives, key interest rates, the supply
of reserves in the Eurosystem, and the establishment of guidelines
for the implementation of those decisions.
Meetings and decisions
The Governing Council usually meets twice a month at the Eurotower in Frankfurt am Main, Germany.
At its first meeting each month, the Governing Council assesses economic and monetary developments and takes
its monthly monetary policy decision. At its second meeting, the Council discusses mainly issues related to other
tasks and responsibilities of the ECB and the Eurosystem.
While the minutes of the meetings are not published, the monetary policy decision is explained in detail at a press conference held shortly after the first meeting each month. The President, assisted by the Vice-President, chairs the press conference.
Members
Click on a photo to enlarge
-
close
-
close
-
close
-
José Manuel González-Páramo Curriculum vitae Member of the Executive Board of the ECB
close
-
close
-
Gertrude Tumpel-Gugerell Curriculum vitae Member of the Executive Board of the ECB
close
-
Guy Quaden
Governor, Nationale Bank van België/Banque Nationale de Belgique
close
-
Axel A. Weber
President, Deutsche Bundesbank
close
-
John Hurley
Governor, Central Bank and Financial Services Authority of Ireland
close
-
Georgios Provopoulos
Governor, Bank of Greece
close
-
Miguel Fernández Ordóñez
Governor, Banco de España
close
-
Christian Noyer
Governor, Banque de France
close
-
Mario Draghi
Governor, Banca d'Italia
close
-
Athanasios Orphanides
Governor, Central Bank of Cyprus
close
-
Yves Mersch
Governor, Banque centrale du Luxembourg
close
-
Michael C. Bonello
Governor, Central Bank of Malta
close
-
Nout Wellink
President, De Nederlandsche Bank
close
-
Ewald Nowotny
Governor, Oesterreichische Nationalbank
close
-
Vítor Manuel Ribeiro Constâncio
Governor, Banco de Portugal
close
-
Marko Kranjec
Governor, Banka Slovenije
close
-
Ivan Šramko
Governor, Národná banka Slovenska
close
-
Erkki Liikanen
Governor, Suomen Pankki - Finlands Bank
close
-
Legal basis
See Article 10 of the Statute (of the European System of Central Banks and of the European Central Bank) for
provisions regarding the Governing Council.
Article 10.1: "In accordance with Article 112 (1) of this Treaty, the Governing Council shall comprise
the members of the Executive Board of the ECB and the governors of the national central banks."