Eurosystem

The Eurosystem is the monetary authority of the eurozone, the collective of European Union member states that have adopted the euro as their sole official currency.

The European Central Bank (ECB) has, under Article 16 of its Statute,[1] the exclusive right to authorise the issuance of euro banknotes.

The Eurosystem consists of the ECB and the national central banks (NCB) of the 20 member states that are part of the eurozone.

Without prejudice to this objective, the Eurosystem supports the general economic policies in the Community and acts in accordance with the principles of an open market economy.

127 TFEU): In addition, the Eurosystem contributes to the smooth conduct of policies pursued by the competent authorities relating to the prudential supervision of credit institutions and the stability of the financial system.