Question

who is running the European Central Bank? Why is this important?

what are the problems with Brexit. MAKE A LIST / NUMBER each problem.

Answer 1

European Central Bank is the bank for eurozone which comprises of 19 member countries of the European Union. European Central Bank is controlled and governed by European law. However, it resembles the structure of a corporation as it has shareholders and stock capital. For its functioning and achieveing the tasks, there are mainly four decision making bodies which are:

1. The executive board,
2. The governing council,
3. The general council, and
4. The supervisory board.

This Bank has its significance for controlling inflation rate in Eurozone while administering the monetary policy. Other important task which this bank does is managing foreign exchange operations, maintaining the payment system, collection and establishment of statistics, and financial stability and prudential policy.

Problems with Brexit are:

1. Damage to UK's growth due to grwoing uncertain about what's going to happen in near future.
2. UK would lose EU's state-of-the-art technologies.
3. UK's tariff free trade status with other EU members would go away. UK's image may prevail as of a protectionist state.
4. It would hurt young workers as jobs in other Eurozone countries wouldn't be readily available to UK workers.