One of the most important areas where delegation theories have been applied has been in the debate over the merits of Independent Central Banks (ICBs) such as the Bank of England or the European Central Bank.
On October 14, the European Central Bank (ECB) began saying Greece would need a third bailout.
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However, Jürgen Stark, a Member of the Executive Board of the European Central Bank, has stated that "Iceland would not be able to adopt the EU currency without first becoming a member of the EU".
After several days of intense negotiations, the two major parties along with the Popular Orthodox Rally agreed to form a grand coalition headed by former European Central Bank vice-president Lucas Papademos.
In June 2012 the Cypriot finance minister Vassos Shiarly stated that the European Central Bank, European commission and IMF officials are to carry out an in-depth investigation into Cyprus' economy and banking sector to assess the level of funding it requires.
It is managed by the European Commission however it broadcasts images coming from all EU Institutions like the European Parliament, the European Council, the European Central Bank, the Committee of the Regions, the European Court of Justice.
The Liikanen report or Report of the European Commission's High-level Expert Group on Bank Structural Reform is a set of recommendations that was published in October 2012 by a group of experts led by Erkki Liikanen, governor of the Bank of Finland and ECB council member.
Peter Praet (born 20 January 1949 in Herchen near Eitorf, North Rhine-Westphalia, Germany) is chief economist of the European Central Bank.