According to the Statute of the ESCB and the ECB, the European System of Central Banks consists of the ECB and the national central banks of the 25 EU Member States. The monetary policy of the euro area is of course only determined by the ECB and the 12 national central banks of the euro area.
Accordingly, the concept “Eurosystem” refers to the ECB and the 12 national central banks of the Member States which have adopted the euro presently. The national central banks of the Member States which do not participate in the euro area, that is, the United Kingdom, Denmark, Sweden and the 10 new Member States, however, are members of the ESCB with a special status.