The New European Central Bank: Taking Stock and Looking Ahead

Abstract

Abstract The New European Central Bank features an edited collection on a retrospective and prospective account of the European Central Bank (ECB) and its evolution. The ECB was introduced in the European legal order on the occasion of the Treaty of Maastricht in 1992. However, the ECB in modern times differs from its 1998 inception with regards to its monetary policy options, consideration of concerns other than low inflation in its policy-making, and its role in the Banking Union. Additionally, the book tackles the most salient and controversial elements of the ECB’s crisis response, such as unconventional monetary policy measures and the ECB’s risk management strategy. It also elaborates on the notions of financial stability and environmental stability.