EU nations being split into regions

Similar to the United States, there are several mints; monetary policy, however, is driven by the Governing Council, at the ECB. The Governing Council includes representatives from each of the national central banks, which the ECB replaced as the monetary authority in those respective countries. The Bank of Spain, for example, can issue legal tender, but is handicapped by the ECB in regards to the volume it can issue (rates are provided by the ECB); really, national banks are there to provide financial advice for fiscal policy to national governments. They have lost their roles as monetary policy setters outside the ECB.