Value proposition

Helping euro area countries avoid and overcome severe crises, fostering long-term stability and prosperity #ESMeuro

The ESM is the crisis resolution mechanism for euro area countries. The ESM issues debt instruments in order to finance loans and other forms of financial assistance to euro area Member States.

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 was inaugurated on 8 October 2012 and is based in Luxembourg.

economics & market analysis, policy strategy, banking, lending, investment and funding, and risk management