The Eurosystem is the monetary authority of the euro area and comprises the European Central Bank (ECB) and the national central banks of the Member States whose currency is the euro. Its primary objective is to maintain price stability.

The European System of Central Banks (ESCB) comprises the ECB and the national central banks of all Member States of the European Union (EU), regardless of whether or not they have adopted the euro.

For this reason, the Eurosystem and the ESCB will continue to coexist while there are EU Member States that do not belong to the euro area.