The Executive Board is responsible for the implementation of monetary policy (defined by the Governing Council) and the day-to-day running of the bank. It can issue decisions to national central banks and may also exercise powers delegated to it by the Governing Council. It is composed of the President of the Bank (currently Mario Draghi), the Vice-President (currently Vitor Constâncio) and four other members. They are all appointed for non-renewable terms of eight years. They are appointed "from among persons of recognised standing and professional experience in monetary or banking matters by common accord of the governments of the Member States at the level of Heads of State or Government, on a recommendation from the Council, after it has consulted the European Parliament and the Governing Council of the ECB". The Executive Board normally meets every Tuesday. COUNT 5
QSN1 Who is responsible for overseeing all monetary policy? ANS1 The Executive Board QSN2 Who is the current president of the ECB? ANS2 Mario Draghi QSN3 Who is the Vice-President of The European Central Bank? ANS3 Vitor Constâncio QSN4 Along with the President and Vice President, how many other members make up the Executive Board? ANS4 four QSN5 For how long are the other members of the Executive Board appointed? ANS5 non-renewable terms of eight years