#EUROat20 ECB-QuizClash competition
Between 18 February and 10 March 2019, we teamed up with QuizClash to launch a special competition for all EU residents to mark the 20th anniversary of the euro.
More than 1.6 million players across the European Union competed against each other in six rounds of three questions.
To those who got all questions right: well done, you are true euro experts! From among these euro champions we drew 30 winners, who were contacted to choose their prize (either an iPad Pro or an Interrail Global Pass). A list of the winners can be found here.
Many thanks to all who participated in the competition and congratulations to the winners!
Did you know…?
35% of players thought that the European Central Bank is located in Strasbourg.
Actually, Strasbourg is the official seat of the European Parliament! We are located in Frankfurt am Main, Germany.
Follow our Instagram account to get our morning greetings from our offices that overlook the Frankfurt skyline.
A significant proportion of players thought that the ECB can finance the governments of EU countries.
This is not true – we are an independent institution. The Treaty on the Functioning of the EU prohibits the ECB from lending to EU institutions or the public sector. This shields the Eurosystem from any influence of public authorities.
One of the ECB’s primary responsibilities is keeping prices stable.
85% of the players knew this! The ECB preserves price stability by controlling how much money is circulating in the economy, and by setting interest rates. It keeps an eye on prices for goods and services to check they are not rising too much. This way, people can buy similar amounts with the euro tomorrow as they do today.
We took on banking supervision responsibilities in November 2014 – not January 2002.
Almost half of the #EUROat20 quiz players were confused about these two dates!
January 2002 was indeed a key date in our history: this is when the first euro banknotes and coins entered into circulation.
But it was in November 2014 that the ECB took on the responsibility of supervising European banks. The financial crisis has shown how quickly and forcefully problems in the financial sector can spread – especially in a monetary union – and also how such problems directly affect people across the eurozone. In this context, the ECB’s aim is to rebuild trust in the EU banking sector and increase the resilience of the banks.
We would like to thank Valentin Hasner, Constantin Weiß, Heinrich Westphalen, Annika Schwarz and Sarah Christina Zuellig (students of the 2018 Bachelor’s Class in Media and Communications Management, taught by Dr Eliane Bucher and Dr Markus Will, at the University of St. Gallen, Switzerland) for suggesting this competition.