Factsheet: Five years of the ESM

06/10/2017

Five years of the ESM

Five years of ESM - key figures

Five years of ESM - timeline

ESM inaugurated; 17 euro area finance ministers attend first Board of Governors meeting

8 October 2012

ESM disburses first loan to Spain (for bank recapitalisation)

11 December 2012

ESM Board of Governors elects Jeroen Dijsselbloem as its Chairman

11 February 2013

ESM disburses first loan to Cyprus

13 May 2013

ESM becomes sole mechanism for new financial assistance programmes in euro area (replacing EFSF)

1 July 2013

ESM issues inaugural bond (5-year, €7 bn bond)

8 October 2013

Latvia joins the ESM as first non-founding member (and 18th overall)

13 March 2014

ESM reaches target level of €80 bn in paid-in capital

1 April 2014

ESM Direct Recapitalisation Instrument adopted

8 December 2014

Lithuania becomes 19th member of the ESM

3 February 2015

ESM disburses first loan to Greece

20 August 2015

ESM Working Paper Series is launched

25 September 2015

Regional Financing Arrangements hold first annual high-level dialogue

6 October 2016

ESM short-term debt relief measures for Greece approved

23 January 2017

Klaus Regling is reappointed as ESM Managing Director for second 5-year term

20 February 2017

Independent Evaluator Gertrude Tumpel-Gugerell presents Evaluation Report on past EFSF/ESM programmes to the Board of Governors

15 June 2017

esm

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