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 Union the executive branch of the European Union, takes part in the G7 and other international summits as well. All four offices have been described as the President of Europe, however, none can be seen to be analogous to the President of the United States (who is both head of state and head of government). Imperfect comparisons with other political system have attempted to explain the complex nature of the European institutions. As each institution has its own leader, it has been suggested that the terms "Speaker" of the European Parliament, "Governor" of the European Central Bank, "Chairman" of the Council