EUROPEAN CENTRAL BANK

History

100

When was the ECB established?
a)1998
b)1979
c)1994

1998

200

The ECB is located in this city.
a)Maastricht 
b)Rome
c)Frankfurt

Frankfurt

300

Who is the president of the ECB?

Christine Lagarde

400

This 1992 treaty established the EU and laid the legal foundation for EMU

Treaty of Maastricht

500

This establishment paved the way for the new common currency in 1994-1998:

a)Economic and Monetary Union
b)European Monetary Institute
c)European Monetary System

European Monetary Institute

Structure

100

What is the difference between the European System of Central Banks (ESCB) and the Eurosystem?

 The ESCB includes the ECB and all EU national central banks, while the Eurosystem includes only the ECB and the national central banks of euro area countries.

200

Only EU member that has an Euro Opt-out

Denmark

300

This body manages the day-to-day business of the ECB.

A) Executive Board
B) Supervisory Board
C) Governing Council

Executive Board

400

Maximum budget deficit allowed under the Stability and Growth Pact.

A) 5% of GDP
B) 3% of GDP
C) 2% of GDP

3% of GDP

500

Name one of the four convergence criteria.

Price stability, public finances, long-term interest rates, exchange rate stability