Economics Eurozone Crisis Questions
The European Central Bank (ECB) plays a crucial role in managing the Eurozone Crisis. Its main responsibilities include maintaining price stability, conducting monetary policy, and ensuring the stability of the financial system within the Eurozone. During the crisis, the ECB implemented various measures to address the challenges faced by member countries. These measures included providing liquidity support to banks, conducting bond-buying programs (such as the Outright Monetary Transactions), and implementing unconventional monetary policies (such as negative interest rates). The ECB also played a key role in coordinating with other European institutions and governments to implement structural reforms and fiscal consolidation measures. Overall, the ECB's actions aimed to restore confidence in the Eurozone, stabilize financial markets, and support economic recovery.