Analýza úlohy ECB při řešení evropské finanční krize

The aim of the thesis is to analyse the European Central Bank's approach to the European financial crisis which occurred short after the eruption of the global financial crisis. The first part focuses on the definition of the European System of Central Banks, the Eurosystem and also the European Central Bank. In respect to the European Central Bank, the first part defines its mandate, the top bodies and the tools which the European Central Bank uses for implementing its monetary policy. The second part describes the beginning of the global financial crisis. The description starts with the development of a bubble in the American mortgage market and continues to the decision of the Federal Reserve System not to provide the investment bank Lehman Brothers with an emergency loan. The last part deals with the European Central Bank's actual fight against the consequences of the crisis. It describes the use of non-standard tools of monetary policy which had been used minimally until then and rather in a theoretical way. The summary contains the evaluation of the used tools and includes future exit strategy.