What is the definition of The European Central Bank (ECB)?

The European Central Bank (ECB) is the central bank of the European Union. The main responsibilities of the ECB are:

• Implement monetary policy for the Eurozone countries
• Provide funding for European banks and governments
• Maintain financial stability throughout Europe
• Regulate the European banking industry

The head of the ECB, as of November 2011 is Mario Draghi.

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