Has the European central bank become too powerful?

Has the European central bank become too powerful? in short, yes, in long, maybe

1. Has the European Central Bank become too powerful? Dominik Lukáč 26.10.2023

2. What does the ECB do. Conduct s the monetary policy of the Eurozone Sets th e interest rates at which it lends to commercial banks in the Eurozone to control money supply and inflation Executes currency exchange Ensures the safety of European banking system Lender of last resort Issue or buy bonds EU climate targets Dominik Lukáč 26.10.2023

3. Has it become too powerful . it has no political overlord or fiscal counterpart It has the authority to change the amout of currency and flow  the lender of last resort to euro-zone governments Policymakers are instructed to support the general policies it makes If the ECB urgently needs dollar or other currency , it can swap it fast with FED directly or other non-eu members of the EU It aims to boost the euro and the trade in euro by issuing a digital currency – not even FED goes that far „ Monetary-policy tools “ to lend to household to employ green policy Dominik Lukáč 26.10.2023

4. The fear . That the ECB has become too powerful The more it ventures into risky and controversial areas , the greater the risk of its legitimacy Dominik Lukáč 26.10.2023

5. https://www.economist.com/finance-and-economics/2023/09/13/has-the-european-central-bank-become-too-powerful THANK YOU. Dominik Lukáč 26.10.2023