Geopolitics Magazine March - April 2015 ( 8th Edition ) | Page 78
Geopolitics & Daily News Magazine
Providing an international forum for exchange of information and experience on financial
modelling
Encouraging research in financial modelling (new techniques, methodologies, empirical studies,
software, etc.)
Stimulating and strengthening the interaction between financial economic theory and the •
practice of financial decision making
Cooperating and exchanging information with other universities and financial institutions
throughout Europe.(Sorini 2011)
ECHR
ECJ
Working Group
Parliament
National
Government
Judicial system
Statics
Agency
National experts
Member States
The President of
The Union
Rotated
Typical
Presenten
The Council
The European
Commission
DG
ECB
The
European
Parliament
Citizen’
s
incentiv
The ECOFIN/ECFIN
Citizens
Figure 4 EU Ecosystem
Eurozone Ecosystem
On the Core or European Union one may find the 19 members states of Eurozone. These 19 member
states consist a special Ecosystem operating the following institutions:
The European Central Bank (ECB): Is the Central Bank of the Eurozone. The ECB is the single
player on monetary management of Eurozone. Its members are the National Central Banks of
the Member States that have as currency the Euro. The Bank has a president elected for 7
years and the top managerial work is carried out by two bodies the Executive Board (5
Members) and the Board of directors. The voting rights are distributing on the basis of each
member state share in EZ GDP. Furthermore the voting within the board of directors is carried
out in two groups the first which count for 4 vote and is curried out between the 5 strongest
economies of EZ while the second group counts for 11 votes representing the rest 14
member states. The voting rights are distributed on a 6 months rotation period. The sum of
ECB and National Banks constitute the Euro-system(Piris 2010, Christie 2014).
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