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When the pandemic hit Europe, the initial market shock was calmed by the positive reaction to the European Central Bank’s €1,850 billion monetary Pandemic Emergency Purchase Programme (PEPP) bond-buying operations and the European fiscal policy response: a package of measures from the European Commission (EC), European Investment Bank (EIB) and ESM worth a combined €540 billion as well as the Next Generation EU of €750 billion.

The European Stability Mechanism (ESM) will launch 6-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.5 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Monday, 17 May 2021
Bidding period: Tuesday, 18 May 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 20 May 2021
 

I would like to thank Minister Christos Staikouras and his colleagues for their warm welcome today.

Our meeting in September was my last trip before the pandemic intensified again and travel restrictions were tightened. This is my first official trip, almost a year later, as measures ease again. And I am happy to be able to come back as we see the situation improving.

The result of the auction of 11 May 2021 for the 12-months Bills of the ESM was as follows:
Total Bids: €8,070.00mn
Competitive bids €1,572.00mn
Non-competitive bids €6,498.00mn
Allotment / Issue volume €1,099.62mn
 

ESM Secretary General Nicola Giammarioli will speak at a webinar ‘Colloquio sul MES’ hosted by the University of Palermo.

The European Stability Mechanism (ESM) will launch 12-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.1 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Monday, 10 May 2021
Bidding period: Tuesday, 11 May 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 13 May 2021