About: European Stability Mechanism (ESM)

Economy & Jobs 12-06-2020

Independent report unveils flaws in Greek bailout

Eurozone creditors who designed and supervised Greece's bailout paid “insufficient attention” to the Greek social needs, had inadequate strategies and pursued damaging fiscal adjustment in the bailout programmes agreed with Athens, an independent evaluation concluded
11-05-2020

EU could open legal case against Germany over ECB bond-purchases ruling

The European Commission could open a legal case against Germany over a ruling by the country's constitutional court that the European Central Bank had overstepped its mandate with bond purchases, the EU executive arm said on Sunday (10 May).
Economy & Jobs 09-05-2020

ESM corona-loans expected to be available from 15 May

The €240 billion in ‘cheap’ loans for countries affected by the coronavirus COVID-19 will be available as from 15 May, 15 days ahead of the expected date, European Stability Mechanism (ESM) chief, Klaus Regling, said on Friday (8 May).
Economy & Jobs 08-05-2020

EU proposes scrapping usual conditions for ESM use in virus battle

The European Commission on Thursday (7 May) proposed scrapping the usual conditions for countries using the eurozone’s bailout fund as they try to revive their economies hit by the coronavirus epidemic. The proposal may make the fund more palatable for...
Economic governance 06-05-2020

Coronavirus will trigger the deepest recession in EU history

The economies of EU countries will shrink by 7.4% this year as the coronavirus crisis is set to cause the worst recession in the bloc’s history, according to the European Commission's spring forecast presented on Wednesday (6 May), which also foresaw a significant rebound in 2021.
Economy & Jobs 23-04-2020

Reforms, investment and the EU Recovery Plan

The EU member states are finally discussing an ambitious European Recovery Plan and the good news is that they already have the right tool at hand, writes Dragoș Pîslaru.
Economy & Jobs 19-04-2020

ESM chief: Europe needs at least €500 billion from EU institutions for recovery

Europe will need at least another €500 billion from European Union institutions to finance its economic recovery after the coronavirus pandemic, on top of the agreed half-a-trillion package, the head of the euro zone bailout fund said.
Economy & Jobs 10-04-2020

Dombrovskis: ‘I could imagine containment costs covered by ESM loans’

Following the Eurogroup’s agreement on the economic response to the coronavirus, European Commission vice-president Valdis Dombrovskis on Friday (10 April) welcomed the €540 billion package in an exclusive interview with EURACTIV.com
Economy & Jobs 10-04-2020

Eurogroup agrees on €540 billion corona-package

The Eurogroup finally agreed on a €500 billion package to support member states, companies and workers in the coronavirus crisis, after The Netherlands and Italy overcame they differences. Leaders will discuss in the coming days the recovery plan and the possibility of ‘coronabonds’.
Economy & Jobs 08-04-2020

Eurogroup fails to progress on economic response to pandemic

After a 16-hour teleconference that concluded on Wednesday morning (8 April), eurozone finance ministers failed to find an agreement on the economic package to tackle the  economic impact of the coronavirus.

How to finance virus response in a sustainable way? Scale up synergies with the Green Deal

EU member states should not have to choose between financing the COVID-19 response, undertaking crucial long-term investments to tackle the climate crisis, and debt sustainability, write Irene Monasterolo and Ulrich Volz.
Future EU 07-04-2020

EU ministers to agree virus rescue plan, not ‘coronabonds’

EU countries are nearing an economic rescue plan for European countries worst hit by the coronavirus outbreak, sources said on Monday (6 April), but not at the level of ambition called for by Italy and Spain.
Economy & Jobs 06-04-2020

France proposes a fund of EU’s 3% GDP against virus 

The EU should have a fund capable of issuing debt totalling up to 3% of EU’s GDP (gross national income), or around €450 billion, to support the most affected countries, which would be repaid in proportion to each member state’s GNI, according to an internal document seen by EURACTIV.com.
Economy & Jobs 02-04-2020

Netherlands, Austria push for tougher conditions for corona-loans

The Hague and Vienna are insisting on including stricter conditionality attached to loans for coronavirus-hit countries, toughening up the formula proposed by the eurozone’s bailout fund (ESM) and seen by EURACTIV.com.
Economy & Jobs 27-03-2020

Leaders clash over stimulus against pandemic, pass hot potato to Eurogroup

EU leaders on Thursday (26 March) continued to disagree over the economic response to the coronavirus as Northern countries rejected the idea of issuing joint debt, known as "corona bonds", proposed by nine member states to finance the recovery.
Economy & Jobs 25-03-2020

Eurogroup nearing agreement to use bailout fund against pandemic

Countries of the euro area are close to an agreement to use the European Stability Mechanism to provide credit lines of up to 2% of their GDP to tackle the consequences of the coronavirus COVID-19.
Coronavirus 24-03-2020

COVID-19: France wants to activate EU bailout fund without conditions or delay

The financial crisis management tool of the eurozone countries must be activated without delay and without conditions, said French Economy Minister Bruno Le Maire before the Eurogroup meeting on Tuesday (24 March). EURACTIV France reports.
Economy & Jobs 24-03-2020

EU countries warn of ‘severe economic downturn’, suspend Stability Pact

EU member states took the unprecedented decision to suspend the Stability and Growth Pact obligations on Monday (23 March), in order to allow billions of euros in extra spending to mitigate the "severe economic downturn" caused by the coronavirus.
Economy & Jobs 20-03-2020

Italy’s Conte calls for EU’s ‘full firepower’ against virus

Italian Prime Minister Giuseppe Conte called Friday (20 March) for the European Union to tap the "full firepower" of its rescue fund to combat the coronavirus outbreak.
Economy & Jobs 19-03-2020

Germany and Netherlands ‘open’ to considering ‘coronabonds’ 

Germany and The Netherlands, two of the most staunch opponents to the idea of issuing common debt in the eurozone, would be “open” to discuss eurobonds to mitigate the economic impact of the coronavirus COVID-19.
Coronavirus 18-03-2020

Italian PM floats idea of ‘corona-bonds’ to restart EU economy

Giuseppe Conte, the Italian Prime Minister, urged EU leaders on Tuesday (17 March) to take extraordinary measures and consider issuing joint debt at EU level in order to help Europe's economy recover from the coronavirus crisis.
Economy & Jobs 17-03-2020

Euro area countries mobilise around €120 billion against coronavirus

Euro area countries have mobilised around 1% of their GDP (€120 billion) to fight against  the economic fallout from the coronavirus but continued to disagree over deploying a joint fiscal stimulus, after a joint teleconference held on Monday (16 March). 
Coronavirus 16-03-2020

MEPs step up pressure to adopt bolder measures against coronavirus

Members of the European Parliament called on member states and EU institutions to adopt a more ambitious package to address the economic fallout of the coronavirus COVID-19, as the European economy is expected to fall into recession this year due to the pandemic.
Economy & Jobs 02-01-2020

Eurozone 2020: The race against the clouds

After seven years of growth, the eurozone's outlook is deteriorating. There is a risk of a recession if the trade war with Washington worsens, while member states continue to disagree over the completion of the economic and monetary union that would help them cope with a downturn.
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