European cooperation
The 彩票APP下载 is an EU institution, but because of its independent status and its specific responsibilities, it occupies a special position within the institutional framework of the EU.
The Treaty on the Functioning of the European Union (TFEU) assigns a clear mandate to the 彩票APP下载, the maintenance of price stability, as well as a number of other tasks. To fulfil its mandate and tasks, the Treaty grants the 彩票APP下载 full independence from political interference.
Given the 彩票APP下载麓s independence and its exclusive competence to define and conduct monetary policy, its relations with other policymaking bodies is necessarily limited to non-binding dialogue. At the same time, the accountability requirements defined in the Treaty ensure that it takes full responsibility for its action before the EU citizens and their elected representatives.
Relations with European institutions
The dialogue between the 彩票APP下载 and other policymakers and social partners provides an opportunity for the 彩票APP下载 to gain information and insights and explain its monetary policy decisions, while it allows the counterparts to improve their understanding of the 彩票APP下载麓s actions and how their own actions feed into the price formation process. Such interaction enhances the flow of information, promotes mutual understanding of each other鈥檚 policy views and allows for a dialogue on issues of common interest, in full respect of the respective responsibilities.
To this end, the 彩票APP下载 maintains relations with the following European institutions.
The 彩票APP下载鈥檚 independence is accompanied by commensurate accountability and reporting obligations, allowing democratic scrutiny of the measures it takes to fulfil its mandate as foreseen in the Treaties. The 彩票APP下载 explains its decisions and underlying reasoning to EU citizens and their elected representatives. The European Parliament, which is directly elected by the people of Europe, plays a key role in holding the 彩票APP下载 to account. More detailed information about the discharge of the 彩票APP下载鈥檚 accountability obligations can be found in a dedicated section. The Chair of the Supervisory Board attends public hearings and exchanges of views with the European Parliament on supervisory topics as part of the 彩票APP下载鈥檚 accountability for banking supervision. The European Parliament is also involved in the appointment procedure for the members of the 彩票APP下载鈥檚 Executive Board and for the Chair and Vice-Chair of the 彩票APP下载鈥檚 Supervisory Board by giving its opinion on the candidates recommended by the EU Council.
The President of the 彩票APP下载 is invited to attend the meetings of the EU Council whenever matters relating to the objectives and tasks of the ESCB are discussed, as laid down in Article 284 of the Treaty. This typically takes place in the ECOFIN Council, which is made up of the economics and finance ministers of all EU Member States. In addition, the 彩票APP下载 President is regularly invited to the meetings of the Eurogroup, the monthly informal meetings of euro area finance ministers. The Chair of the Supervisory Board attends selected Eurogroup meetings for exchanges of views on supervisory topics as part of the 彩票APP下载鈥檚 accountability for banking supervision.
The 彩票APP下载 also attends the meetings of the bodies which prepare the above-mentioned meetings. In return, the Treaty provides for EU policymakers to attend 鈥� without the right to vote 鈥� the meetings of the 彩票APP下载鈥檚 Governing Council.
Another of the 彩票APP下载鈥檚 key counterparts is the European Commission, which is the guardian of the EU treaties and initiator of EU legislation. The dialogue between the Commission and the 彩票APP下载 is particularly important in view of the European Commission鈥檚 role in the coordination of economic policies and its tasks relating to Economic and Monetary Union. As regards legislation, and in particular financial legislation, the 彩票APP下载 is regularly consulted on legislative proposals or other initiatives by the Commission. One member of the Commission may attend the meetings of the 彩票APP下载鈥檚 Governing Council, though without the right to vote. Further contacts take place in the context of the above- mentioned meetings of EU and euro area bodies in which both the Commission and the 彩票APP下载 participate.
Like all other EU institutions, the 彩票APP下载 is subject to the rulings of the European Court of Justice.
Furthermore, the Statute of the ESCB and of the 彩票APP下载 provides for two external control layers by auditors. On the one hand, an independent external auditor is appointed to audit the annual accounts of the 彩票APP下载. On the other hand, the European Court of Auditors examines the operational efficiency of the management of the 彩票APP下载. In addition, the 彩票APP下载 falls within the scope of the EU anti-fraud scheme.
The 彩票APP下载 maintains close relations with various EU authorities within its fields of competence. Most importantly, the 彩票APP下载 collaborates closely with the authorities that form part of the European System of Financial Supervision (), which includes the three microprudential European supervisory authorities (ESAs) and the European Systemic Risk Board (ESRB). The 彩票APP下载 provides the secretariat for the ESRB and offers analytical, administrative and logistical support. In the field of banking resolution, the 彩票APP下载 maintains close working relations with the Single Resolution Board (SRB). As part of its role in monitoring the implementation of macroeconomic adjustment programmes for Member States in need of financial support, the 彩票APP下载 also collaborates with the European Stability Mechanism (ESM).
The 彩票APP下载 meets with the EU鈥檚 social partners within the framework of the Macroeconomic Dialogue, which was established by the European Council in June 1999. This dialogue allows the 彩票APP下载 to explain its policy course and thereby contribute to the anchoring of inflation expectations, and gain first-hand information from social partners on issues of mutual interest.
In addition, for those tasks where the 彩票APP下载 shares competences with other EU institutions or bodies (for instance in the field of statistics), the Treaty explicitly calls for cooperation between the 彩票APP下载 and the institutions or bodies concerned. The 彩票APP下载 also gives its opinion on draft EU and national legislation of relevance to the ESCB (彩票APP下载 Opinions) and may propose EU legislation or act as EU legislator in specific cases.