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
Institutions of the European Union contrast to Parliament's vote of approval which must be cast on the Commission as a whole without the ability to accept or reject individual Commissioners. Once approval has been obtained from the Parliament the Commissioners can take office. The current President is Jean-Claude Juncker (EPP); his commission was elected in 2014. The Court of Justice of the European Union (CJEU) is the EU's judicial branch. It is responsible for interpreting EU law and treaties. It comprises the main chamber: Court of Justice, the General Court and the Civil Service Tribunal. The CJEU is located in Luxembourg. The "European Central Bank"