Governing Council of the European Central Bank Governing Council of the European Central Bank The Governing Council of the European Central Bank is the main decision-making body of the European Central Bank (ECB) and has "sole responsibility" for formulating monetary policy in the Eurozone. It comprises the members of the Executive Board of the European Central Bank and the governors of the national central banks (NCBs) of the eurozone countries. The Governing Council is responsible for formulating monetary policy for the Eurozone. Specifically: In general, the Governing Council (GC) meets twice a month at the Eurotower in Frankfurt, Germany. The first meeting is the most important and
Institutional seats of the European Union locations of the major seats have been enshrined in the treaties of the European Union, Parliament has no right to decide its own seat, unlike other national parliaments. Locating new bodies is also not without political disputes. The European Central Bank's (ECB) seat had to symbolise its independence from political control, and was located in a city which did not already host a national government or European institution. New agencies are also being based in eastern Europe since 2004 to balance the distribution of agencies across the EU. The treaties of the European Union outline the locations of the following