The European central bank is the Central European finances, that is established due to the creation of the single European currency, the euro and the European union of nations (EU). The European Central Bank is located in Frankfurt am Main, Germany, from where it was listed as the main axis of the symbol and proper functioning of the Euro system finance. The European Central Bank begins its development and planning since 1996 where he proposed to the European policy to create a joint bank where you control the finances to include the free interaction of European countries, but the institution of the bank was not until June 1, 1998, when by a unanimous vote it was agreed that this would be the headquarters of

the city of Frankfurt, Germany. The first major action of the European central bank was the institution of the multinational currency euro, that from 1 January 1999, where at last after a lot of discussion and implementation of new financial policies, countries like Portugal, Belgium, France , Germany, Spain, Italy, Ireland and Austria, among others, decided unanimously to accept the currency and its proposed controller and analyst creating the European Central Bank (ECB) was formed by a representative of each of the allied countries in this process. A very important point to play when we talk the European central bank are the functions for which this was developed, within which highlights some as: • Maintaining the purchasing power of the single currency in the 15 countries that comprise the acceptance of the euro as its currency. • Controlling the money supply and price trends in Europe. • Must be responsible for executing the policy action, monetary and economic developments in all countries of the European Union. • Maintaining the balance between central banks and capital including the acceptance of the single currency euro in his regime, thus helping to improve and maintain the proper functioning of the Eurosystem in the so-called eurozone. Although today there are some other important functions performed by the European Central Bank, the previously highlighted are possibly some of the important. Another very important part to emphasize when we talk the European central bank is its organization, as this is fundamental to keep much of the good diplomatic relations and finance in Europe. This organization is given as follows: • General advice: this is comprised of the president and vice president of the ECB (European Central Bank) and in turn by the 27 governors of the state banks of the European Union. This committee is directly responsible for the planning, preparation and status of the euro zone growth. • Governing Council: This is formed by all 6 members of the executive committee and by the 15 governors of central banks that are within the euro area. This council is the most important because in their work is to define some policy in the euro zone and set the interest at which commercial banks are subjected to obtain central bank money. • Executive Committee: This is formed by the president and vice president of the ECB and by 4 members from within the 15 countries comprising the euro area. This committee has the specific function of giving the necessary data for the euro system remains in proper balance, by information to each of the central banks that make up the eurozone. Given this importance is demonstrated by the European central bank, not only for the proper functioning of the European economy but also to significantly improve and maintain the union of the same.