The topic of the paper is the European Central Bank, her relationship to the banking system and the causes for the Global Financial Crisis. The thesis starts with fundamental terms of monetary theory and information about the European System of Central Banks. Facts about the structure and the mandate of the European Central Bank as soon as her possible instruments to influence monetary policy complete the theoretical part. The first research question is concerned with the implemented and planned measures of the European Central Bank to solve the problems caused by the crisis. Decreasing the base rate did not produce the wanted market effect. The central bank has taken further steps, for example the Securities Market Programme. The second main issue provides analyses about the new tasks of the European Central Bank. The strategies to strengthen the future development of the European Economic and Monetary Union complete the paragraph. Some of the actions had been successful in the short-term. The sustainability could be evaluated only in the next years because the crisis has not been overcome. A short summary providing the contents and the results of the paper complete that thesis.