DECRYPTION – Christine Lagarde launched Thursday the “strategic review” of the ECB’s monetary policy. Le Figaro enlightens you on the concrete consequences of the institution’s decisions for the users of the euro.
Frankfurt is beautiful, but it is far away. From the headquarters of the European Central Bank, we often only see the large blue euro sign surrounded by stars, which stands in front of the main building. Few know that behind the fourteen-meter-tall sculpture, around 3,000 employees are busy defining monetary policy for the Eurozone and its 350 million people. And even fewer clearly identify what monetary policy is.
However, it is, along with budgetary policy, the second lever of any public economic policy. On June 1, 1998, along with ten other countries, the French government chose to hand over all its ability to act in this area to the ECB, to found the European currency which itself entered into circulation on January 1. For what concrete assessment? In twenty years, no one could establish it without mentioning its main institution, sometimes nicknamed “second European Commission”.
● ECB tools
The Bank was established in 1998 in Frankfurt, with
