yz2022/T2P-DownstreamNLP huggingface dataset:
European_Central_Bank

The Executive Board is responsible for the implementation of monetary policy (defined by the Governing Council) and the day-to-day running of the bank. It can issue decisions to national central banks and may also exercise powers delegated to it by the Governing Council. It is composed of the President of the Bank (currently Mario Draghi), the Vice-President (currently Vitor Constâncio) and four other members. They are all appointed for non-renewable terms of eight years. They are appointed "from among persons of recognised standing and professional experience in monetary or banking matters by common accord of the governments of the Member States at the level of Heads of State or Government, on a recommendation from the Council, after it has consulted the European Parliament and the Governing Council of the ECB". The Executive Board normally meets every Tuesday.

Question: Along with the President and Vice President, how many other members make up the Executive Board?
Answer: four
European_Central_Bank

The primary objective of the European Central Bank, as laid down in Article 127(1) of the Treaty on the Functioning of the European Union, is to maintain price stability within the Eurozone. The Governing Council in October 1998 defined price stability as inflation of under 2%, “a year-on-year increase in the Harmonised Index of Consumer Prices (HICP) for the euro area of below 2%” and added that price stability ”was to be maintained over the medium term”. (Harmonised Index of Consumer Prices) Unlike for example the United States Federal Reserve Bank, the ECB has only one primary objective but this objective has never been defined in statutory law, and the HICP target can be termed ad-hoc.

Question: What did the Harmonised Index of Consumer Prices state that price stability had to be maintained at?
Answer: over the medium term

Question: When did the Governing Council define price stability?
Answer: October 1998

Question: What is the primary goal of the ECB?
Answer: maintain price stability within the Eurozone

Question: Where is the primary mission of the European Central Bank listed?
Answer: Article 127(1) of the Treaty on the Functioning of the European Union
European_Central_Bank

The bank must also co-operate within the EU and internationally with third bodies and entities. Finally, it contributes to maintaining a stable financial system and monitoring the banking sector. The latter can be seen, for example, in the bank's intervention during the subprime mortgage crisis when it loaned billions of euros to banks to stabilise the financial system. In December 2007, the ECB decided in conjunction with the Federal Reserve System under a programme called Term auction facility to improve dollar liquidity in the eurozone and to stabilise the money market.

Question: Why did the ECB intervene during the subprime mortgage crisis?
Answer: to stabilise the financial system
European_Central_Bank

This has led to public discussions if Greece, Portugal, and even Italy would be better off leaving the eurozone to regain economical and financial stability if they would not implement reforms to strengthen their competitiveness as part of the eurozone in time. Greece had the greatest need for reforms but also most problems to implement those, so the Greek exit, also called "Grexit", has been widely discussed. Germany, as a large and financially stable state being in the focus to be asked to guarantee or repay other states debt, has never pushed those exits. Their position is to keep Greece within the eurozone, but not at any cost. If the worst comes to the worst, priority should be given to the euro's stability.

Question: As one of the financial powers, has Germany ever tried to force the crisis states into leaving the eurozone?
Answer: never pushed those exits

Question: What is Germany's position on wether or not Greece should be in the eurozone?
Answer: If the worst comes to the worst, priority should be given to the euro's stability.

Question: Which eurozone country has the biggest need for financial reform?
Answer: Greece
European_Central_Bank

This changed with the recent sovereign-debt crisis. The ECB always could, and through the late summer of 2011 did, purchase bonds issued by the weaker states even though it assumes, in doing so, the risk of a deteriorating balance sheet. ECB buying focused primarily on Spanish and Italian debt. Certain techniques can minimise the impact. Purchases of Italian bonds by the central bank, for example, were intended to dampen international speculation and strengthen portfolios in the private sector and also the central bank.

Question: What debt did the ECB focus on abtaining?
Answer: Spanish and Italian
Pope_John_XXIII

Pope John XXIII did not live to see the Vatican Council to completion. He died of stomach cancer on 3 June 1963, four and a half years after his election and two months after the completion of his final and famed encyclical, Pacem in terris. He was buried in the Vatican grottoes beneath Saint Peter's Basilica on 6 June 1963 and his cause for canonization was opened on 18 November 1965 by his successor, Pope Paul VI, who declared him a Servant of God. In addition to being named Venerable on 20 December 1999, he was beatified on 3 September 2000 by Pope John Paul II alongside Pope Pius IX and three others. Following his beatification, his body was moved on 3 June 2001 from its original place to the altar of Saint Jerome where it could be seen by the faithful. On 5 July 2013, Pope Francis – bypassing the traditionally required second miracle – declared John XXIII a saint, after unanimous agreement by a consistory, or meeting, of the College of Cardinals, based on the fact that he was considered to have lived a virtuous, model lifestyle, and because of the good for the Church which had come from his having opened the Second Vatican Council. He was canonised alongside Pope Saint John Paul II on 27 April 2014. John XXIII today is affectionately known as the "Good Pope" and in Italian, "il Papa buono".

Question: He is still known today as what?
Answer: the "Good Pope"
European_Central_Bank

The primary objective of the European Central Bank, as mandated in Article 2 of the Statute of the ECB, is to maintain price stability within the Eurozone. The basic tasks, as defined in Article 3 of the Statute, are to define and implement the monetary policy for the Eurozone, to conduct foreign exchange operations, to take care of the foreign reserves of the European System of Central Banks and operation of the financial market infrastructure under the TARGET2 payments system and the technical platform (currently being developed) for settlement of securities in Europe (TARGET2 Securities). The ECB has, under Article 16 of its Statute, the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand.

Question: Where is the mission for the European Central Bank found?
Answer: Article 2 of the Statute of the ECB
European_Central_Bank

From late 2009 a handful of mainly southern eurozone member states started being unable to repay their national Euro-denominated government debt or to finance the bail-out of troubled financial sectors under their national supervision without the assistance of third parties. This so-called European debt crisis began after Greece's new elected government stopped masking its true indebtedness and budget deficit and openly communicated the imminent danger of a Greek sovereign default. Seeing a sovereign default in the eurozone as a shock, the general public, international and European institutions, and the financial community started to intensively reassess the economic situation and creditworthiness of eurozone states. Those eurozone states being assessed as not financially sustainable enough on their current path, faced waves of credit rating downgrades and rising borrowing costs including increasing interest rate spreads. As a consequence, the ability of these states to borrow new money to further finance their budget deficits or to refinance existing unsustainable debt levels was strongly reduced.

Question: Who brought Greece's financial crisis to the forefront?
Answer: new elected government
European_Central_Bank

The primary objective of the European Central Bank, as mandated in Article 2 of the Statute of the ECB, is to maintain price stability within the Eurozone. The basic tasks, as defined in Article 3 of the Statute, are to define and implement the monetary policy for the Eurozone, to conduct foreign exchange operations, to take care of the foreign reserves of the European System of Central Banks and operation of the financial market infrastructure under the TARGET2 payments system and the technical platform (currently being developed) for settlement of securities in Europe (TARGET2 Securities). The ECB has, under Article 16 of its Statute, the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the amount must be authorised by the ECB beforehand.

Question: Where can the basic tasks of the European Central Bank be found?
Answer: Article 3 of the Statute
European_Central_Bank

The first President of the Bank was Wim Duisenberg, the former president of the Dutch central bank and the European Monetary Institute. While Duisenberg had been the head of the EMI (taking over from Alexandre Lamfalussy of Belgium) just before the ECB came into existence, the French government wanted Jean-Claude Trichet, former head of the French central bank, to be the ECB's first president. The French argued that since the ECB was to be located in Germany, its president should be French. This was opposed by the German, Dutch and Belgian governments who saw Duisenberg as a guarantor of a strong euro. Tensions were abated by a gentleman's agreement in which Duisenberg would stand down before the end of his mandate, to be replaced by Trichet.

Question: What was Duisenberg's previous business experience?
Answer: former president of the Dutch central bank and the European Monetary Institute
European_Central_Bank

As of 18 June 2012, the ECB in total had spent €212.1bn (equal to 2.2% of the Eurozone GDP) for bond purchases covering outright debt, as part of its Securities Markets Programme (SMP) running since May 2010. On 6 September 2012, the ECB announced a new plan for buying bonds from eurozone countries. The duration of the previous SMP was temporary, while the Outright Monetary Transactions (OMT) programme has no ex-ante time or size limit. On 4 September 2014, the bank went further by announcing it would buy bonds and other debt instruments primarily from banks in a bid to boost the availability of credit for businesses.

Question: By 2012, how much did the ECB spend in covering bad debt?
Answer: €212.1bn

Question: How does the ECB plan to increase the available credit for businesses?
Answer: Outright Monetary Transactions

Question: What is the duration of the Outright Monetary Transactions program?
Answer: no ex-ante time or size limit
European_Central_Bank

The first President of the Bank was Wim Duisenberg, the former president of the Dutch central bank and the European Monetary Institute. While Duisenberg had been the head of the EMI (taking over from Alexandre Lamfalussy of Belgium) just before the ECB came into existence, the French government wanted Jean-Claude Trichet, former head of the French central bank, to be the ECB's first president. The French argued that since the ECB was to be located in Germany, its president should be French. This was opposed by the German, Dutch and Belgian governments who saw Duisenberg as a guarantor of a strong euro. Tensions were abated by a gentleman's agreement in which Duisenberg would stand down before the end of his mandate, to be replaced by Trichet.

Question: Who did the French government think was best candidate for President of the ECB?
Answer: Jean-Claude Trichet

Question: Why did the French want a French bank president?
Answer: since the ECB was to be located in Germany, its president should be French

Question: Who was the first president of the ECB?
Answer: Wim Duisenberg
European_Central_Bank

As of 18 June 2012, the ECB in total had spent €212.1bn (equal to 2.2% of the Eurozone GDP) for bond purchases covering outright debt, as part of its Securities Markets Programme (SMP) running since May 2010. On 6 September 2012, the ECB announced a new plan for buying bonds from eurozone countries. The duration of the previous SMP was temporary, while the Outright Monetary Transactions (OMT) programme has no ex-ante time or size limit. On 4 September 2014, the bank went further by announcing it would buy bonds and other debt instruments primarily from banks in a bid to boost the availability of credit for businesses.

Question: When was the new idea for the purchasing of eurozone bonds announced?
Answer: 6 September 2012

Question: How long was the duration of the Securities Markets Programme to last?
Answer: temporary
European_Central_Bank

The first President of the Bank was Wim Duisenberg, the former president of the Dutch central bank and the European Monetary Institute. While Duisenberg had been the head of the EMI (taking over from Alexandre Lamfalussy of Belgium) just before the ECB came into existence, the French government wanted Jean-Claude Trichet, former head of the French central bank, to be the ECB's first president. The French argued that since the ECB was to be located in Germany, its president should be French. This was opposed by the German, Dutch and Belgian governments who saw Duisenberg as a guarantor of a strong euro. Tensions were abated by a gentleman's agreement in which Duisenberg would stand down before the end of his mandate, to be replaced by Trichet.

Question: What did the French, German, Dutch and Belgian governments finally compromise on with regards to managing the ECB?
Answer: Duisenberg would stand down before the end of his mandate, to be replaced by Trichet
European_Central_Bank

From late 2009 a handful of mainly southern eurozone member states started being unable to repay their national Euro-denominated government debt or to finance the bail-out of troubled financial sectors under their national supervision without the assistance of third parties. This so-called European debt crisis began after Greece's new elected government stopped masking its true indebtedness and budget deficit and openly communicated the imminent danger of a Greek sovereign default. Seeing a sovereign default in the eurozone as a shock, the general public, international and European institutions, and the financial community started to intensively reassess the economic situation and creditworthiness of eurozone states. Those eurozone states being assessed as not financially sustainable enough on their current path, faced waves of credit rating downgrades and rising borrowing costs including increasing interest rate spreads. As a consequence, the ability of these states to borrow new money to further finance their budget deficits or to refinance existing unsustainable debt levels was strongly reduced.

Question: What did the eurozone states that were thought to not be able to repay their debt face as a consequence?
Answer: the ability of these states to borrow new money to further finance their budget deficits or to refinance existing unsustainable debt levels was strongly reduced

Question: What had Greece's previous government been hiding?
Answer: its true indebtedness and budget deficit
European_Central_Bank

José Manuel González-Páramo, a Spanish member of the Executive Board since June 2004, was due to leave the board in early June 2012 and no replacement had been named as of late May 2012. The Spanish had nominated Barcelona-born Antonio Sáinz de Vicuña, an ECB veteran who heads its legal department, as González-Páramo's replacement as early as January 2012 but alternatives from Luxembourg, Finland, and Slovenia were put forward and no decision made by May. After a long political battle, Luxembourg's Yves Mersch, was appointed as González-Páramo's replacement.

Question: Who did the Spanish want to take José Manuel González-Páramo's seat on the board?
Answer: Antonio Sáinz de Vicuña

Question: When did González-Páramo take his seat on the Executive Board?
Answer: June 2004
European_Central_Bank

From late 2009 a handful of mainly southern eurozone member states started being unable to repay their national Euro-denominated government debt or to finance the bail-out of troubled financial sectors under their national supervision without the assistance of third parties. This so-called European debt crisis began after Greece's new elected government stopped masking its true indebtedness and budget deficit and openly communicated the imminent danger of a Greek sovereign default. Seeing a sovereign default in the eurozone as a shock, the general public, international and European institutions, and the financial community started to intensively reassess the economic situation and creditworthiness of eurozone states. Those eurozone states being assessed as not financially sustainable enough on their current path, faced waves of credit rating downgrades and rising borrowing costs including increasing interest rate spreads. As a consequence, the ability of these states to borrow new money to further finance their budget deficits or to refinance existing unsustainable debt levels was strongly reduced.

Question: Which country was the first to be at risk for soverign default?
Answer: Greece
European_Central_Bank

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the Eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the world's most important central banks and is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). The capital stock of the bank is owned by the central banks of all 28 EU member states.[dated info] The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015[update] the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, and former managing director of the Goldman Sachs international division (2002–2005). The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters.

Question: What is the official, central bank for the euro?
Answer: The European Central Bank
European_Central_Bank

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Question: When was Basel II adopted?
Answer: 2005

Question: Which agencies have became the authority on assessing the risk of financial institutions?
Answer: Moody's and S&P
European_Central_Bank

The European Central Bank (ECB) is the central bank for the euro and administers monetary policy of the Eurozone, which consists of 19 EU member states and is one of the largest currency areas in the world. It is one of the world's most important central banks and is one of the seven institutions of the European Union (EU) listed in the Treaty on European Union (TEU). The capital stock of the bank is owned by the central banks of all 28 EU member states.[dated info] The Treaty of Amsterdam established the bank in 1998, and it is headquartered in Frankfurt, Germany. As of 2015[update] the President of the ECB is Mario Draghi, former governor of the Bank of Italy, former member of the World Bank, and former managing director of the Goldman Sachs international division (2002–2005). The bank primarily occupied the Eurotower prior to, and during, the construction of the new headquarters.

Question: What former managing director od Goldman Sachs international division is president of The European Central Bank?
Answer: Mario Draghi

Question: Who owns the capital stock of The European Central Bank?
Answer: the central banks of all 28 EU member states

Question: What is the Eurozone?
Answer: consists of 19 EU member states and is one of the largest currency areas in the world

Question: What established The European Central Bank?
Answer: The Treaty of Amsterdam
European_Central_Bank

From late 2009 a handful of mainly southern eurozone member states started being unable to repay their national Euro-denominated government debt or to finance the bail-out of troubled financial sectors under their national supervision without the assistance of third parties. This so-called European debt crisis began after Greece's new elected government stopped masking its true indebtedness and budget deficit and openly communicated the imminent danger of a Greek sovereign default. Seeing a sovereign default in the eurozone as a shock, the general public, international and European institutions, and the financial community started to intensively reassess the economic situation and creditworthiness of eurozone states. Those eurozone states being assessed as not financially sustainable enough on their current path, faced waves of credit rating downgrades and rising borrowing costs including increasing interest rate spreads. As a consequence, the ability of these states to borrow new money to further finance their budget deficits or to refinance existing unsustainable debt levels was strongly reduced.

Question: When did the European debt Crisis begin?
Answer: 2009
European_Central_Bank

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Question: What said that agencies had to start using Moody's and S&P to assess financial institutions?
Answer: the Basel II recommendations
European_Central_Bank

José Manuel González-Páramo, a Spanish member of the Executive Board since June 2004, was due to leave the board in early June 2012 and no replacement had been named as of late May 2012. The Spanish had nominated Barcelona-born Antonio Sáinz de Vicuña, an ECB veteran who heads its legal department, as González-Páramo's replacement as early as January 2012 but alternatives from Luxembourg, Finland, and Slovenia were put forward and no decision made by May. After a long political battle, Luxembourg's Yves Mersch, was appointed as González-Páramo's replacement.

Question: Who was ulitmately named as González-Páramo's replacement?
Answer: Luxembourg's Yves Mersch

Question: Why did the Spanish think that Vicuña would be a suitable replacement for González-Páramo?
Answer: ECB veteran who heads its legal department
European_Central_Bank

Think-tanks such as the World Pensions Council have also argued that European legislators have pushed somewhat dogmatically for the adoption of the Basel II recommendations, adopted in 2005, transposed in European Union law through the Capital Requirements Directive (CRD), effective since 2008. In essence, they forced European banks, and, more importantly, the European Central Bank itself e.g. when gauging the solvency of financial institutions, to rely more than ever on standardised assessments of credit risk marketed by two non-European private agencies: Moody's and S&P.

Question: Since when have the Basel II recommendations been in effect?
Answer: 2008