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European Stability Mechanism

Alternative labels (en):
In scheme: Broader: Related: Definition (en):

The European Stability Mechanism is the permanent crisis resolution mechanism for the countries of the euro area. The ESM issues debt instruments in order to finance loans and other forms of financial assistance to euro area Members States. Source: ESM. Available at: http://www.esm.europa.eu/. (Accessed: 16 January 2014)

History note (en):

Entered in force on 27 September 2012. The ESM has taken over the tasks fulfilled by the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).