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Annual reports
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Download PDF: ESM Annual Report 2017

The annual report contains a description of the ESM's policies, activities, financial statements and economic developments in 2017.  Additionally, it contains an external auditor's report and a report of the Board of Auditors.

Excerpt of the Message from the Managing Director

"As a permanent institution, the ESM makes the monetary union more robust, and enhances the resilience of its economy. These are not abstract concepts: it means fewer job losses, and less economic damage when the next crisis hits."

- Klaus Regling

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