| Author (Corporate) | European Stability Mechanism |
|---|---|
| Publisher | European Stability Mechanism |
| Publication Date | 2017 |
| Content Type | Key Source, Overview |
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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. |
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| Source Link | Link to Main Source http://www.esm.europa.eu/ |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
