The ECB is the central bank which monitors the monetary policy of the Eurozone, with the main objective being to maintain price stability.
The ECB's headquarters are in Frankfurt, Germany. Its owners and shareholders of the European Central Bank are the central banks not just of the 18 eurozone countries, but of the 28 member states of the EU.
Eurozone banks have received the results of a stress test undertaken by the European Central Bank. The examination was designed to show how each bank would fare in the event of another financial crisis. Any banks that fail will have to prove they can raise extra funds within the next few weeks.
Spanish banks have been hit hard by the burst of the real estate bubble. Several savings banks and commercial banks are at risk of collapse. The government in Madrid made use of 40 million euros of EU aid to restore the banking sector. Nonetheless, many Spanish banks expect to fail the stress test.
What with low interest rates and inflation, saving no longer seems to make much sense - but Germans are still doing it more than anyone else in Europe. Even so, their faith in frugality is wavering. Made in Germany heads to a small town in western Germany where many are angry at the banks and the ECB's decision to lower interest rates.
Stimulus efforts such as lowered interest rates, cheap loans for banks and the ECB's bond purchases are designed to put more money in circulation. But many believe all they do is defer risks. We talk to Martin Hellmich from the Frankfurt School of Finance & Management about whether the ECB's fiscal policy will help the eurozone.
European Union law stipulates that bank deposits of up to 100-thousand euros are fully guaranteed by a bank insurance fund. This law applies to all EU member states - including Bulgaria. But an amendment is now preventing many Bulgarian depositors from gaining access to money from the country's fourth-largest bank KTB, which has been closed since June.