The European Central Bank : the New European Leviathian?

David Howarth and Peter Loedel provide a theoretically inspired account of the creation, design and operation of the European Central Bank. Issues explored include the theoretical approaches to the ECB, the antecedents of European monetary authority, the different national perspectives on central bank independence, the complex organization of the bank, the issues of accountability and the difficult first years of the ECB in operation. "The European Central Bank is a unique creation in world history: an independent central bank managing one currency - the euro - which has been adopted in twelve member states of the European Union. The monetary policy decisions of the ECB thus directly affect the lives of roughly 300 million people living in the eurozone and have a significant impact on many more. Providing an excellent synthesis of existing research, new research and insights, David Howarth and Peter Loedel explore the theoretical approaches to the ECB. Many issues are covered, including: the antecedents of European monetary authority; the different national perspectives on central bank independence; the complex organisation of the bank; the issues of accountability; and the difficult first years of the ECB in operation."--BOOK JACKET The European Central Bank is a unique creation in world history: an independent central bank managing the single currency - the Euro - adopted in twelve member states of the European Union. The monetary policy decisions of the ECB thus directly affect the lives of roughly 300 million people living in the Euro-Zone and have a significant impact on many more. Providing an excellent synthesis of existing research, new research and insights, David Howarth and Peter Loedel explore the theoretical approaches to the ECB. Many issues are incorporated, including the antecedents of European monetary authority the different national perspectives on central bank independence, the complex organisation of the bank, the issues of accountability and the difficult first years of the ECB in operation Introduction: Hobbes And The European Central Bank -- Analytical And Theoretical Approaches To The Study Fo The European Central Bank -- The Long And Winding Road To The Ecb: European Monetary Authority In The Prehistory Of Emu -- National Attitudes On The Ecb And Central Bank Independence -- Managing Europe's Money: The Organization, Powers And Functions Of The Ecb -- The Independence Of The Ecb -- A Question Of Credibility: A Short History Of The Ecb Monetary Policy -- Conclusion: The Ecb And The Future Of Europe -- Appendices: Protocols On The Statute Of The Escb And Of The Ecb And The Protocol On The Statute Of The Emi ; Resolution On The Stability And Growth Pact. David Howarth, Peter Loedel. Includes Bibliographical References And Index. Front Matter....Pages i-xix Analytical and Theoretical Approaches to the Study of the European Central Bank....Pages 1-24 The Long and Winding Road to the ECB: European Monetary Authority in the Prehistory of EMU....Pages 25-50 National Attitudes on the ECB and Central Bank Independence....Pages 51-86 Managing Europe’s Money: the Organization, Powers and Functions of the ECB....Pages 87-116 The Independence of the ECB....Pages 117-142 A Question of Credibility: a Short History of ECB Monetary Policy....Pages 143-185 Conclusion: the ECB and the Future of Europe....Pages 186-210 Back Matter....Pages 211-272 David Howarth and Peter Loedel provide a theoretically inspired account of the creation, design and operation of the European Central Bank. Issues explored include the theoretical approaches to the ECB, the antecedents of European monetary authority, the different national perspectives on central bank independence, the complex organisation of the bank, the issues of accountability and the difficult first years of the ECB in operation. Provides a theoretically inspired account of the creation, design and operation of the European Central Bank. Issues explored include the theoretical approaches to the ECB, the different national perspectives on central bank independence, the issues of accountability and the difficult first years of the ECB in operation.