PRESS RELEASE

Publication of a book: “The European Central Bank - History, role and functions”

25 October 2004

The European Central Bank (ECB) has today published a book on its history, role and functions.

This publication looks at the ECB from legal, institutional and organisational standpoints. One part discusses the role of the ECB in the context of the objectives and arrangements of Economic and Monetary Union (EMU) and gives a brief overview of the processes that led to the Bank’s establishment and the introduction of the euro. Another part is devoted to the role and functions performed by the ECB at the helm of the Eurosystem, and its relations with the national central banks. Further topics include the multiple aspects of its status as a Community body and corporate entity.

The author, Hanspeter K. Scheller, was closely involved in the process leading up to the establishment of the ECB in 1998. As Secretary General of the European Monetary Institute (EMI), established in 1994 as the precursor of the ECB, he was chiefly responsible for planning and organising the EMI’s preparatory work to establish the European System of Central Banks (ESCB) and launch the euro, and for coordinating this work with the activities of Community institutions and the financial industry. Until his retirement in 2003, Mr Scheller headed the ECB’s Directorate General Administration and chaired the ESCB Accounting and Monetary Income Committee.

The book – so far available in English - can be downloaded as an e-book from the ECB's website (http://www.ecb.europa.eu) alternatively, hard copies can be obtained by writing to the ECB's Press and Information Division at the address below.

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