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The article discusses the centralized decision-making process of the European Central Bank (ECB) regarding monetary policy. It explains that the ECB Governing Council is responsible for formulating monetary policy for the euro area. The article also describes the role of Eurosystem committees in preparing and advising on monetary policy decisions. Additionally, it looks at how the Eurosystem structure has evolved over time and the economic rationale for its federal nature.

Author

Alvaro Rubio

Language

EN