What is the Eurosystem?

The Eurosystem is a group composed of the European Central Bank (ECB) and the National Central Banks (NCBs) of the Member States that have adopted the euro.

The Eurosystem is therefore a subset of the European System of Central Banks (ESCB), which consists of the ECB and of the national central banks of all of the Member States of the European Union. The decisions of the ECB, in matters concerning monetary policy, for example, only apply to the countries of the euro area and are implemented by the national central banks of the euro area. Therefore, the ECB and the NCBs of the euro area jointly contribute to attaining these common objectives of the Eurosystem.

The ECB provides more detailed information on its website; we invite you to visit it by clicking on the following image.