ECB are the capitals of the European Central Bank is a bank responsible of the monetary policy in Eurozone, which contains 17 States of European Union that has adopted this currency (the euro).
BCE together with other Central Banks that has the euro as its currency form the Eurosystem. On the other hand, BCE and other Central Banks of all the member States of the European Union, the ones that have the euro and the others that do not, form the European System of the Central Bank.
The 17 States that contains the BCE are in this picture
The central banks from non-euro area countries are Bulgaria, Croatia, Denmark, Poland and Romania.
The ECB works as an organ of the European Union with two special characteristics which we talk about more intensely as soon as possible: transparency, independence and democratic accountability.
As students of International Law, we want you to know that this body is very important in International Law because it affects us directly. It can control the prices of the goods we buy every day, it can put sanctions to States (sanctions that would be paid with taxes) among others.
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