The European System of Central Banks

Danmarks Nationalbank participates in the European System of Central Banks, ESCB. The ESCB consists of the European Central Bank, ECB, and the central banks of all 27 EU member states. The central banks of the EU member states, which have not introduced the euro, are members of the General Council only.

The Eurosystem is the part of the ESCB responsible for the euro and the single monetary policy. The Eurosystem consists of the ECB and the national central banks of the Euro Area member states. The single monetary policy is determined by the Governing Council consisting of the 6 members of the ECB's Executive Board and the central bank governors of the Euro Area member states. The members of the Governing Council each have one vote.