Frankfurt

ECB box

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Claiming 83,000 of the 600,000 jobs in Frankfurt, banks are taken very seriously around these parts. 83 percent of Frankfurt’s GDP is based in service industries, so if inhabitants don’t work directly for the banks themselves, they probably work for companies which somehow indirectly support them. The GDP per Frankfurt employee is a whopping €70,165, and the balance sheet of banks headquartered in Frankfurt comes to a staggering €2,218 billion. There are over 315 banks here, including 177 foreign institutions, which is probably why you can walk around town and hear five different languages on any given day.
The most famous bank in Frankfurt is the European Central Bank (ECB, www.ecb.europa.eu), which makes Frankfurt the capital city of the euro. The current president of the ECB is Frenchman Jean-Claude Trichet. Politically independent of the governments of the EU member states, the ECB is responsible together with the national central banks for the definition and implementation of monetary policy in the eurozone. Its mission is to maintain price stability for the eurozone, thereby safeguarding the value of the euro. The ECB building houses a gift and bookshop with plenty of literature and coin sets (Kaiserstr. 29, tel. +49 69 24 40 47 98).

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