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
Member of the European Parliament Member States to the Union. The EU's annual budget is adopted jointly by Parliament and the Council of the European Union, within overall limit on EU spending decided on by unanimous agreement of all Member States and a multilateral Financial Framework laid down by Council with Parliament's consent. The Parliament may also block certain Commission decisions where there has been a delegation of powers to the Commission and may repeal such delegation of powers. The Parliament also elects the European Ombudsman and holds hearings with candidates for the President and Board members of European Central Bank, the Court of Auditors