The European Central Bank (ECB) administers monetary policy within the Eurozone. The bank’s capital stock (€10,825,007,069.61) is owned by all 27 central banks of each EU member statesMember State (abbr. MS) is how eurocrats call a country which is part of the European Union. Clear writing guidelines recommend using EU country or EU countries instead, but some habits are hard to die..... That’s why it’s very hard for a country to leave the Union: nobody would know how to split the 61 cents. The capital allocation was determined according to countries’ population and GDP in 1998, though further adjustments followed.
Until 2015 the ECB was headquartered in the Eurotower (German: Barad-dûr) but then the seat was moved to a specifically designed building located in the Ostend (German: Orthanc) district of Frankfurt.
As we found out recently, the ECB main objective is not to close spreads in sovereign debt markets but to maintain price stability within the Eurozone. This task is accomplished by monitoring and comparing the most advanced financial indexes, such as S&P (Spaghetti and Pasta), CEBC (Central European Beer and Chips) and CAC (Cointreau And Crêpe).