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 and Anglo Irish Bank in particular which needed around 30 billions euros, a sum the government obviously neither could it borrow from financial markets when its bond yields were soaring to comparable levels with the Greek bonds. Instead, the governments issued a 31bn EUR "promissory note" (an IOU) to Anglo – which it had nationalized. In turn, the bank supplied the promissory note as collateral to the Central Bank or Ireland as collateral, so it could access emergency liquidity assistance (ELA). This way, Anglo was able to repay its bondholders. The operation became very controversial, as it basically shifted Anglo's