About: ESM Archives

  • All eyes to turn to Karlsruhe on 10 July

    News | Euro & Finance 04-07-2012

    On 10 July, the eyes of Europe will be on Karlsruhe, where Germany’s Constitutional Court is located. Judges will examine appeals brought against the European Stability Mechanism (ESM), the main European bailout fund, and the fiscal pact. EURACTIV Germany reports.

  • Finns, Dutch cast first doubt on EU summit deal

    News | Euro & Finance 03-07-2012

    Finland and the Netherlands, the eurozone's most hardline creditor states, cast the first doubts on Monday on a European summit deal designed to save Spain and Italy from being engulfed by the currency bloc's debt crisis.

  • German parliament approves EU bailout fund

    News | Euro & Finance 02-07-2012

    Germany's parliament resoundingly approved the eurozone's permanent bailout scheme and new budget rules on Friday (29 June), but legal hurdles remain and Chancellor Angela Merkel's concessions to eurozone partners Italy and Spain may make those harder to overcome.

  • Opposition builds against ‘Van Rompuy paper’ for fiscal union

    News | Euro & Finance 28-06-2012

    EU heads of states and government who start their two-day summit today “have problems” deciding what to do with proposals for greater fiscal and political integration tabled by European Council President Herman Van Rompuy and three other leaders, EURACTIV was told.

  • Eurozone vows to act rapidly on Spain

    News | Euro & Finance 22-06-2012

    Eurozone ministers are pressing Spain to formalise its bank aid request at the latest by Monday, and promise to send international creditors to Greece to hold talks with the newly formed government. 

  • Berlin says German court ruling won’t delay EU bailout fund

    News | Euro & Finance 19-06-2012

    Germany's top court found today (19 June) that Angela Merkel's government did not adequately consult parliament on setting up the eurozone's permanent bailout scheme, though the ruling is not expected to delay its ratification by Germany.

  • Downgraded Spain seeks ‘at least’ 40bn bank bailout

    News | Euro & Finance 08-06-2012

    Without waiting for a widely expected EU rescue, credit ratings agency Fitch cut Spain's sovereign rating to BBB from A with a negative outlook, saying Madrid was especially vulnerable to a worsening of the euro zone debt crisis.

  • Spain comes a step closer to EU/IMF bailout

    News | Euro & Finance 29-05-2012

    As Spain's ten-year borrowing costs neared danger levels following the nationalisation of Bankia, the country's fourth largest bank, Madrid was given assurances that it could count on external assistance if needed.

  • Eurozone agrees temporary boost to rescue fund

    News | Euro & Finance 30-03-2012

    Eurozone finance ministers agreed on Friday (30 April) on a temporary increase, up to €700 billion, of their financial rescue capacity to prevent a new flare-up of Europe's sovereign debt crisis, but markets may judge it too small to be convincing.

  • Merkel accepts eurozone firewall increase

    News | Euro & Finance 27-03-2012

    German Chancellor Angela Merkel has signalled for the first time that she was prepared to compromise on boosting funds available for bailing out struggling eurozone countries, paving the way for an increase in the bloc's firewall to contain the debt crisis.

  • Chinese leader warms to eurozone bailout

    News | Euro & Finance 03-02-2012

    Chinese Prime Minister Wen Jiabao says Beijing is considering greater involvement in the eurozone's rescue funds, the temporary European Financial Stability Facility (EFSF) and the upcoming European Stability Mechanism (ESM).

  • Barroso warns Hungary it needs to comply with EU laws

     Video | Promoted content | Central Europe 12-01-2012

    The European Union will make sure that Hungary complies with all the bloc's laws, the head of the bloc's executive promised on Thursday. Hungary's conservative government is under fire for a series of new laws and constitutional amendments which critics say unduly concentrate powers on a range of matters - from finances to election law - with the administration.

  • France to propose anti-speculation measures after Bundestag vote

    News | Euro & Finance 28-09-2011

    France will lay out proposals to step up the eurozone's fight against "speculative" market attacks after German lawmakers vote on extending the scope of the bloc's rescue fund this week, French Prime Minister François Fillon said on Tuesday (27 September).

  • Europeans mull bigger bailout fund for Italy, Spain

    News | Euro & Finance 27-09-2011

    European policymakers began discussing new ways of boosting the capacity of their €440 billion bailout facility, in the clearest sign yet that the eurozone is getting ready to rescue a big country such as Italy or Spain from the unfolding debt crisis.

  • Merkel: We’re buying time for other countries

     Video | Promoted content | Euro & Finance 26-09-2011

    German Chancellor Angela Merkel on Sunday said that she can not rule out letting a eurozone country default on its debts. Merkel said that this is a possibility to consider once the Eurozone has a permanent rescue fund in place.
    In a one-hour interview with ARD television, Merkel said a permanent rescue fund is necessary to prevent crisis in countries such as Greece from spilling over to other countries that use the euro as their currency.

  • Finland will not obstruct bailouts: EU official

    News | Euro & Finance 29-03-2011

    Finland has recently carried the can for a delay in raising the amount of money available to the EU's temporary bailout facility. But a senior EU official assures that no national government will stand in the way of boosting the bailout mechanism. 

  • EU leaders thrash out deal on permanent euro shield

    News | Euro & Finance 25-03-2011

    Early this morning, EU leaders finally reached a difficult agreement on the funding structure of the euro zone's new permanent bailout facility, which is due to enter into force after 2013, after Germany sought last-minute changes needed to secure political backing in Berlin.

  • EU leaders to delay eurozone rescue deal

    News | Euro & Finance 24-03-2011

    A government collapse in Portugal and political tensions in other member states mean EU leaders are set to postpone until June a decision to reform the euro zone and boost the bloc's bailout facility as they meet for a crucial economic summit in Brussels today and tomorrow (24-25 March).

  • EU agrees €700 billion fund to protect euro zone

    News | Euro & Finance 22-03-2011

    EU finance ministers agreed yesterday (21 March) to boost a permanent stability fund, which from mid-2013 will hold €700 billion to shield eurozone countries from future debt crises.

  • Eastern countries resisting high bailout burdens

    News | Euro & Finance 21-03-2011

    Resistance is growing among a group of countries in Eastern Europe to funding euro bailouts as officials hurriedly try to secure an agreement on a controversial permanent bailout fund at an EU summit by the end of the week.