ESCB oor Masedonies
ESCB
en
European System of Central Banks.
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ЕСЦБ
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The NCBs of the Member States that do not participate in the euro area are members of the ESCB with a special status – while they are allowed to conduct their respective national monetary policies, they do not take part in the decision-making with regard to the single monetary policy for the euro area and the implementation of such decisions.
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The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB).
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The European System of Central Banks (ESCB) consists of the European Central Bank (ECB) and the national central banks (NCBs) of all 28 member states of the European Union (EU).
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The Delors report of 1989 set out a plan to introduce the EMU in three stages and it included the creation of institutions like the European System of Central Banks (ESCB), which would become responsible for formulating and implementing monetary policy.
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As a public entity the DNB has a function as both part of the European System of Central Banks (ESCB) and an independent public body (Dutch: zelfstandig bestuursorgaan).
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Without prejudice to the objective of price stability, the Treaty also states that "the ESCB shall support the general economic policies in the Union with a view to contributing to the achievement of the objectives of the Union".
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