Institutions of the European Union (ECB) is the central bank for the eurozone (the states which have adopted the euro) and thus controls monetary policy in that area with an agenda to maintain price stability. It is at the centre of the European System of Central Banks which comprises all EU national banks. The bank is governed by a board of national bank governors and a President. The ECB is located in Frankfurt. The current president is Mario Draghi. The "European Court of Auditors" (ECA), despite its name, has no judicial powers. It ensures that taxpayer funds from the budget of the European Union have
Central European Summer Time Central European Summer Time Central European Summer Time (CEST), sometime referred also as Central European Daylight Time (CEDT), is the standard clock time observed during the period of summer daylight-saving in those European countries which observe Central European Time () during the other part of the year. It corresponds to , which makes it the same as Central Africa Time, South African Standard Time and Kaliningrad Time in Russia. Other names which have been applied to Central European Summer Time are Middle European Summer Time (MEST), Central European Daylight Saving Time (CEDT), and Bravo Time (after the second letter of