Other EU Structures

  • Barry Turner
Part of the The Statesman’s Yearbook book series (SYBK)


The ESCB is composed of the European Central Bank (ECB) and 27 National Central Banks (NCBs). The NCBs of the member states not participating in the euro area are members with special status; while they are allowed to conduct their respective national monetary policies, they do not take part in decision-making regarding the single monetary policy for the euro area and the implementation of these policies. The Governing Council of the ECB makes a distinction between the ESCB and the ‘Eurosystem’ which is composed of the ECB and the 16 fully participating NCBs.

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© Palgrave Macmillan, a division of Macmillan Publishers Limited 2009

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  • Barry Turner

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