The study focuses on one of the main institutions of the European Union (EU), the European Central Bank (ECB). The introduction of the single European currency into the international monetary system in 1999 was intended to rival the hegemony of the US dollar. Although the idea of a European currency facilitates economic exchanges within the euro zone, and considerably alters international monetary geography, it is worth mentioning the economic disparities between euro zone member states. Our book highlights the historical construction of the European Union, its legal form and the Bank of Frankfurt's political strategy for dealing with economic and, more recently, health crises. The ECB needs to be reformed, in order to give new impetus to European monetary policy. Various challenges are mentioned, such as participatory democracy, enabling European civil society to contribute to the decisions of the European Central Bank.