Will the ESM analyse countries after they have concluded their stability support programmes?

As until now, the ESM will participate in post-programme monitoring to safeguard its balance sheet by assessing the ability of a beneficiary Member to repay. In accordance with the Early Warning System (“EWS”) Procedure established pursuant to Article 13 (6) of the ESM Treaty, the EWS starts with the first disbursement and continues until all financial assistance is fully repaid.

In principle, post-programme surveillance missions by the Commission and EWS missions are combined, to prevent unnecessary duplication of analysis by the Commission and the ESM and to avoid unnecessary burden on the relevant Member.