https://www.esm.europa.eu/our-work/how-we-work/esg Overview As an international financial institution with a public mandate, the ESM strives to implement environmental, social and governance best practices within its internal operations. The ESM was established in 2012. Being a young institution, the ESM is continuously developing and improving its...

https://www.esm.europa.eu/procurement/awarded-contracts/long-term-lease-new-vehicles-reference-number-hr-03-cl-ryh-19 Contract notice number in the Official Journal of the European Union: 2019/S 080-191125 Publication date: 24 April 2019 Main CPV code: 72000000 Type of contract: Services Short description: The ESM intends to establish a Framework Agreement with one provider for provision of long-term lease of new...

https://www.esm.europa.eu/procurement/awarded-contracts/training-and-coaching-reference-number-hr-02-tc-ryh-19 Contract notice number in the Official Journal of the European Union: 2019/S 031-068678 Publication date: 13 February 2019 Main CPV code: 80500000 Type of contract: Services Short description: The ESM intends to conclude Framework Agreements with service providers to support the ESM on various areas...

https://www.esm.europa.eu/financial-assistance/programme-database The programme database is a repository of data related to the six financial assistance programmes that the EFSF and ESM carried out between 2011 and 2018. The creation of such a database was one of the recommendations of the 2017 EFSF/ESM Financial Assistance Evaluation Report (“The ESM should...

https://www.esm.europa.eu/procurement/awarded-contracts/provision-website-development-maintenance-and-support-reference-number-cm-04-ws-mc-18 Contract notice number in the Official Journal of the European Union: 2018/S 192-433087 (Corrigendum 2018/S 203-461085 and Corrigendum 2018/S 212 -483701) Publication date: 05 October 2018 Main CPV code: 72000000 Type of contract: Services Short description: The ESM intends to establish a framework...

https://www.esm.europa.eu/publications/annual-report-2018/processing-financial-transactions-esm The ESM engages in substantial financial operations daily. The Middle and Back Office division performs a vital role in validating and processing these transactions. The Middle and Back Office supports three teams: ALM and Lending, which monitors liquidity risk and manages the outstanding loans to...

https://www.esm.europa.eu/publications/annual-report-2018/financial-report/profit-and-loss-account For the financial year ending 31 December 2018 (in €‘000) Notes 2018 2017 Interest receivable and similar income (a) on loans and advances to credit institutions 1,688 304 (b) on loans and advances to euro area Member States 17 1,189,777 938,764 (c) on debt securities including fixed-income...

https://www.esm.europa.eu/publications/annual-report-2018/financial-report/balance-sheet As at 31 December 2018 (in €‘000) Notes 31.12.2018 31.12.2017 ASSETS Cash in hand, balances with central banks and post office banks 4 65,245,717 74,288,120 Loans and advances to credit institutions (a) other loans and advances 5 1,291,715 369,174 1,291,715 369,174 Loans and advances to euro area...

https://www.esm.europa.eu/publications/annual-report-2018/financial-report Balance sheet At year-end, the total ESM balance sheet was €807.1 billion. Compared to 31 December 2017, the balance sheet increased by €10.1 billion, mainly due to new loan disbursements in 2018. The ESM disbursed €21.7 billion in loans to Greece and received early repayments from Spain of €8...

https://www.esm.europa.eu/content/safeguarding-euro-times-crisis-inside-story-esm-book-release On Thursday, 13 June, at 12:00 CEST, the ESM will publish “Safeguarding the euro in times of crisis: The inside story of the ESM”. The book tells the story of how the ESM and its temporary predecessor, the European Financial Stability Facility (EFSF), were founded during the European sovereign debt...

https://www.esm.europa.eu/publications/annual-report-2018/resilience-countries-benefited-programme-assistance Resilience of countries that benefited from financial assistance Spillovers, or contagion, raised the cost of the crisis for the euro area. A key challenge in the euro area debt crisis was contagion: stress in one member state affecting financial markets in another. Tensions spread as investors...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/greek-programme-achievements Greek programme achievements In August 2018, Greece exited its third financial assistance programme after a decade of adjustment. During these years, Greece implemented substantial reforms to restore sustainability to public finances, strengthen the banking sector’s resilience, and improve the...

https://www.esm.europa.eu/publications/annual-report-2018/december-2018-euro-summit-marks-new-chapter-esm December 2018 Euro Summit marks new chapter for the ESM The Euro Summit endorsed a package of measures to deepen European Economic and Monetary Union (EMU), assigning the ESM a stronger role in safeguarding financial stability. In December, the Heads of State or Government endorsed a package of...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/portugal Portugal’s economy continued growing, with some deceleration stemming mostly from the external sector. Domestic demand was the main driver of growth supported by improvements in the labour market. By the end of 2018, fiscal targets were met, supporting reductions in high public debt. This downward...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/cyprus Cyprus regained an investment grade rating in 2018 thanks to strong economic growth, a prudent fiscal policy, and a more resilient financial sector. The winding down of Cyprus Cooperative Bank (CCB) alleviated a major risk to financial stability through the removal of a large share of NPLs from...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/spain The economy continued growing in 2018, outpacing euro area peers. However, there was some deceleration, stemming mostly from the external sector. Robust domestic demand helped to counterbalance the weak external environment. The general government deficit dropped below 3% mostly due to favourable...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/greece After Greece exited its ESM programme in August 2018, the European Commission activated enhanced surveillance for the initial post-programme period and Greece rejoined regular European economic policy coordination. The economic recovery proceeded for the second year, and Greece outperformed the...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences/ireland The Irish economy grew strongly in 2018, backed by buoyant domestic economic activity. Year-end data point to a small Exchequer cash surplus for 2018, driven by over-performing corporate tax receipts. Irish banks showed capital and liquidity buffers well above regulatory requirements, but long-term...

https://www.esm.europa.eu/publications/annual-report-2018/programme-country-experiences Programme country experiences

https://www.esm.europa.eu/publications/annual-report-2018/mission-statement The ESM’s mission is to enable the countries of the euro area to avoid and overcome financial crises and to maintain long-term financial stability and prosperity. As part of the ESM’s continued maturing process, the ESM, led by its extended leadership team, updated its mission statement in early...