Combating the Crisis – The Role of the ECB
by Shane Fitzgerald
The European Central Bank has had a difficult time since the onset of the European sovereign debt crisis. Forced to step into a political vacuum caused by the failure of the European Union’s traditional policymaking process to get to grips with extraordinary events, it has tried to balance the sometimes competing demands of safeguarding the Euro, supporting the financial system, nurturing economic fundamentals and protecting its own integrity.
Like many of the key players in the Euro crisis, the ECB and its representatives have come in for criticism. Much of this is however misguided, and stems from misunderstandings of the institution’s decision-making structure, its mandate and its powers. This infographic attempts to elucidate these elements while also explaining some of the criticisms. We leave it to the viewer to decide to what extent each is valid.
Download the large, high quality PNG version here.
This article was first published by the Institute of International and European Affairs. Access the original here.