The role of national central banks Within the Eurosystem, the national central banks have a role of their own, not only as parties implementing monetary policy, but also as participants in the preparation of the single policy. The Governing Council of the ECB takes its decisions considering the situation in the euro area as a whole and is not a forum for national interests.
Page 6 of 19 Deutsche Bundesbank, Directorate General Communications Wilhelm-Epstein-Strasse 14, 60431 Frankfurt am Main, Germany, tel. : +49 (0)69 9566 3511, fax: +49 (0)69 9566 3077 presse@bundesbank.de, www.bundesbank.de Reproduction permitted only if source is stated. would darken the outlook for the rest of their lives and cause long-term damage to the economy as a whole.