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
President of the European Central Bank with" them, in the 2011 European Parliament nomination hearings. List of presidents since the establishment of the bank on 1 June 1998. Vice President Christian Noyer was only appointed for four years so that his resignation would coincide with the expected resignation of Duisenberg. His successors, starting with Lucas Papademos, are granted eight-year terms. President of the European Central Bank The President of the European Central Bank is the head of the European Central Bank (ECB), the institution responsible for the management of the euro and monetary policy in the Eurozone of the European Union (EU). The President heads the