Post
Topic
Board Economics
Re: ECB starts 24 month digital euro project.
by
Lucius
on 20/07/2021, 10:18:12 UTC
My understanding was that the ECB could pass down decisions based on "consensus" or "majority" rulings, rather than requiring complete agreement from all its members, but I'm not from Europe so someone can correct me if I'm wrong.

The ECB has 3 decision-making bodies, of which the Governing Council is the one that makes decisions. This council consists of the president, his deputy, and 4 other members elected for a term of 8 years, and all the governors of the national central banks. As far as I understand their powers, there must be a common position of all members (governors of national central banks) for a decision to be made - but that is not a problem, governors are appointed to support the ECB's decisions anyway.

What currently comes to my mind are cases where the ECB is the institution that decides whether a member state can sell its gold or not - so France was granted the move, while Italy got the red light (although the request was not even official).



I visited the official website of the ECB and found an interesting podcast entitled "Bicycles, bitcoin and zombie firms: financial stability in the wake of the third wave". I wouldn’t rate it as anything spectacular, but it’s worth listening to.

https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod210616_episode17.en.html