European Central Bank headquartered in Frankfurt, Germany. the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, and former managing director of the Goldman Sachs international division (2002–2005). The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters. The primary objective of the ECB, mandated in Article 2 of the Statute of the ECB, is to maintain price stability within the Eurozone. Its basic tasks, set out in Article 3 of the Statute, are to set and implement the monetary policy for the Eurozone, to conduct
European Central Bank Annual Report are in the official languages of the EU. The European Central Bank (and by extension, the Eurosystem) is often considered as the "most independent central bank in the world". In general terms, this means that the Eurosystem tasks and policies can be discussed, designed, decided and implemented in full autonomy, without pressure, or need for instructions from any external body. The main justification for the ECB independence is that such institutional setup helps maintaining price stability. In practice, the ECB's independence is pinned by four key principles: In addition to its independence, the ECB is subject to limited