Consider the following statements.
1. The European Central Bank (ECB) is the institution of the European Union (EU) tasked with administrating the monetary policy of the EU member states.
2. The bank was established by the Treaty of Amsterdam in 1998 and is headquartered in Berlin.
Which of the statements given above is/are correct?

1 is right

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2 is right

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Both are right

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Neither 1 nor 2

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Solution

The correct option is A 1 is right
The European Central Bank is the central bank for the Euro and administers monetary policy of the Eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany.

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