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About the ESM

Safeguarding financial stability in the euro area

The euro area safety net that helps countries prevent and resolve financial crises
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Stronger Public Finances for Future Challenges

Press conference
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Rising Global Yields and Europe’s Fiscal Challenge

Blog
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Global shocks, domestic shields: Resilience under strain

Euro Area Stability Watch

Who we are

The European Stability Mechanism (ESM) provides financial assistance to euro area countries in crisis, acting as a lender of last resort to ensure the financial stability and prosperity of the euro area.

News

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Press conferences

Pierre Gramegna at Eurogroup press conference, 8 October 2026

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Press releases

Greece repays €2.5 billion to EFSF

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Interviews

Pierre Gramegna interviewed by CNBC Squawk Box Europe

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Speeches

Pierre Gramegna's keynote speech at Capital Markets Seminar 2026

Facts

21
ESM shareholders
€295bn
total amount of loans disbursed by ESM/EFSF
€433bn
ESM's remaining lending capacity (Forward Commitment Capacity)
86%
Percentage of ESM’s €500 bn lending capacity currently available
€81.1bn
ESM’s paid-in capital
12.5years
Weighted average maturity of ESM loans to Spain

Blog

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Euronomics: Rising global yields and the fiscal challenge for Europe

Rolf Strauch
Bonds
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The quiet strength of euro area bonds

Marius Marsanu, Marko Mravlak
Bonds
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Security at what cost? Defence spending, growth, and the fiscal arithmetic

Alexandre Lauwers , Vasiliki Michou, Lorenzo Ricci, Luca Zavalloni
Defence
Euro Area Stability Watch (EASW)
Resilience under strain-blog

Resilience under strain: The euro area is exposed to risks from Middle East conflict and US asset markets

Rolf Strauch
Euro Area Stability Watch (EASW)
Resilience
Group visits inquiry

The ESM welcomes groups from schools, universities, and other institutions that wish to learn about the institution and its role in safeguarding financial stability in the euro area.

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Speaker requests

To invite a member of the ESM Management Board or other ESM staff to speak at a conference or event, please use the speaking engagement request form.