Institutional seats of the European Union are based in Luxembourg City along with the European Investment Bank. The Economic and Social Committee and the Committee of the Regions are entirely based in Brussels while the European Central Bank is based in Frankfurt and Europol is the only agency to have its seat fixed by the treaties, in The Hague. Separately, the Treaty of Nice establishes Brussels as the venue for all formal summits of the European Council after 2004. However some extraordinary sessions are sometimes held outside the city. The European Council's seat is however fixed by a declaration rather than a protocol, meaning it is
President of the European Central Bank 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 executive board, governing council and general council of the ECB. He also represents the bank abroad, for example at the G20. The President is appointed by a qualified majority vote of the European Council, "de facto" by those who have adopted the euro, for an eight-year non-renewable term. However the first President, Duisenberg, did