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
Institutional seats of the European Union less binding than the other seats. The 2011 Treaty Establishing the European Stability Mechanism (ESM) states that the seat of the ESM must be in Luxembourg. The ESM should be ratified and active in mid-2013 and it is allowed to establish a liaison office in Brussels. There are numerous other bodies and agencies that have not had their seats fixed by treaties. Brussels hosts the European Defence Agency (as NATO and formerly the WEU are also in the city). Luxembourg hosts the Translation Centre for the Bodies of the European Union and the European Investment Bank. Strasbourg and Brussels both