ƱAPP

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European relations

The ƱAPP assumed responsibility for the euro area’s single monetary policy on 1 January 1999. While the ƱAPP is fully embedded in the EU institutional framework, the Treaty provides it with a special status.

In particular, the ƱAPP is fully independent in carrying out its mandate and tasks. As a corollary, the ƱAPP is subject to stringent reporting requirements to the people of Europe and their elected representatives.

The ƱAPP interacts with other European institutions and bodies for a number of economic, functional and legal reasons. In the pursuit of its tasks related to European cooperation, the ƱAPP operates within the institutional setting of Economic and Monetary Union (EMU) of the European Union.

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