Website: European Stability Mechanism – ESM

The ESM is the permanent rescue fund set up in 2012 to provide loans to financially distressed euro area countries. The assistance is granted, under strict conditionality, if needed to safeguard the financial stability of the entire euro area and of each euro area country.

The decision leading to the creation of the ESM was taken by the European Council in December 2010. The euro area Member States signed an intergovernmental treaty establishing the ESM on 2 February 2012. The ESM is not an EU Institution. The ESM was inaugurated on 8 October 2012.

• Primary Source

ECB: Monthly Bulletin, July 2011: The European Stability Mechanism https://www.ecb.europa.eu/pub/pdf/other/art2_mb201107en_pp71-84en.pdf?949be656fa5e93425de7b4bffded7c75

Wikipedia: European Stability Mechanism http://en.wikipedia.org/wiki/European_Stability_Mechanism

European Commission: Economic and Financial Affairs: News, 11.07.11: Treaty establishing the European Stability Mechanism (ESM) signed http://ec.europa.eu/economy_finance/articles/financial_operations/2011-07-11-esm-treaty_en.htm

BBC News, 07.07.15: What is the European Stability Mechanism? http://www.bbc.co.uk/news/business-19870747

The Economist, 12.10.13: The European Stability Mechanism. Gearing up for business http://www.economist.com/news/finance-and-economics/21587821-europes-new-rescue-fund-will-have-plenty-keep-it-busy-gearing-up-business

Euronews, 01.08.13: What is the European Stability Mechanism? http://www.euronews.com/2013/08/01/interview-with-klaus-regling-director-of-the-european-stability-mechanism/

ESO: Find more information in ESO on this topic http://www.europeansources.info/advSearchLink?keyword=european%20stability%20mechanism%20&searchTerm

Politico: Tag: European Stability Mechanism https://www.politico.eu/eu-institution/european-stability-mechanism/

Bruegel: Tag: European Stability Mechanism http://bruegel.org/tag/european-stability-mechanism/

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