2.1.2.1 Greece's monetary policy strategyThe Eurosystem conducts monetary policy in the euro area, the main objective of which is to ensure that prices remain stable. Monetary policy sets the ECB's key interest rates. This activity is carried out by the Governing Council of the European Central Bank (ECB). Monetary policy decisions are made with the main objective in mind, which is then made public by the President of the ECB (Bank of Greece, 2014; F. Saccomanni, 2013; Vlamis, 2014). This monetary policy strategy includes the quantitative definition of price stability and aims to keep inflation rates just below 2% in the medium term. The two analytical approaches adopted consist of analyzing the current economic and fiscal improvements and the effects on inflation in the short and medium term. A fiscal and monetary survey is conducted to analyze and evaluate overall liquidity conditions. All this, considering inflation developments, derives from the analysis of the economies of all national and non-national counterparts (Bank of Greece, 2014; F. Saccomanni, 2013; Vlamis, 2014). The Bank of Greece, being essential to the Eurosystem, plays a role in the formulation of the Eurosystem's monetary policy. The governor of the Bank of Greece is also a member of the Governing Council of the ECB. The Governing Council of the ECB decides monetary policy. The Bank of Greece is also involved in the implementation of the Eurosystem's monetary policy. The bank also provides liquidity and recognizes deposits of credit organizations in the Eurosystem's fiscal approach (Bank of Greece, 2014; F. Saccomanni, 2013; Vlamis, 2014). The Bank of Greece is responsible for informing the Greek public about monetary policy. Euro credit institutions are authorized to accept domestic bank credit through...... middle of paper ......World Bank (2014) The World Bank. [Online] Available at: http://www.worldbank.org/ [Accessed 5 March 2014].The World Bank (2014) The World Bank Glossary. [Online] Available at: http://www.worldbank.org/depweb/beyond/global/glossary.html#34[Accessed 6 March 2014].UNDP (2007) The United Nations Development Program (UNDP ) in its Human Development Report., United Nations. University of London (2014) The Center for Financial and Management Studies - Conceptualizing Development. [Online] Available at: http://www.cefims.ac.uk/cedepapp/116_web_unit/page_08.htm[Accessed 10 March 2014].Yale University (2006) Economics 115b. [Online] Available at: http://www.econ.yale.edu/~gjh9/econ115b/index.html [Accessed 10 March 2014]. Vlamis, P., 2014. Greek fiscal crisis and market implications real estate. Journal of Property Investment and Finance, 32(1), pp. 21-34.