The Eurosystem is the monetary authority of the eurozone, which is made up of the European Central Bank (ECB) and the national central banks of the 19 European Union (EU) member states that use the euro as their currency. The primary mandate of the Eurosystem is to maintain price stability in the euro area, which it achieves through the implementation of monetary policy decisions made by the ECB's Governing Council.

The Eurosystem's tasks and responsibilities include conducting monetary policy, issuing euro banknotes and coins, managing foreign reserves, and promoting the smooth operation of payment systems. The ECB sets interest rates and other monetary policy tools to achieve its inflation target of close to, but below, 2% over the medium term. The national central banks of the eurozone countries implement the monetary policy decisions made by the ECB, carry out foreign exchange operations, and provide banking services to their respective governments.

The Eurosystem also plays a crucial role in ensuring the stability of the financial system in the eurozone. It conducts regular stress tests on banks to assess their resilience to adverse economic shocks and takes measures to address potential risks to financial stability.

In addition, the Eurosystem collaborates with other central banks and international organizations on issues related to monetary policy, financial stability, and economic governance. Its policies and decisions have a significant impact not only on the eurozone but also on the global economy.