What is European Central Bank (ECB)?

The European Central Bank (ECB) is the main central bank for the Eurozone, which is the monetary union of 19 European Union (EU) member states that employ the use of the Euro (€) as the region's main currency. The ECB is one of the most important central banks in the world, and serves as one of the seven institutions that comprise the infrastructure of the EU. The main purpose of the ECB is to maintain price stability, regulatory certainty, fair monetary policy, and a healthy European financial system related to banking, investment, insurance, securities, and the EU financial sector as a whole. The ECB is responsible for the authorization of Euro issuance in EU member states.