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Klaus Regling in interview with Bloomberg Surveillance
Transcript of interview with ESM Managing Director Klaus Regling Bloomberg TV (Bloomberg Surveillance), 12 April 2021 Interviewers: Matt Miller and Kailey Leinz

 

Bloomberg TV: One of the questions we've been hearing from investors is when is Europe going to come out with more fiscal stimulus, which is really necessary. Do you agree?

ESM announces upcoming 12 month bill auction

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, 12 April 2021
Bidding period: Tuesday, 13 April 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 15 April 2021

 

ESM hosts seminar on Debt Sustainability

The ESM will hold a high-level seminar on April 20-21, 2021 to discuss key issues in debt sustainability analysis in light of the changing economic and policy environment, including due to Covid-19. In particular, interest rates are likely to stay low for an extended period of time, the fiscal and monetary policy response to Covid-19 has been very large and effective, potential growth has been weak and may be at risk of further scarring from Covid-19, and there are looming long-term challenges like ageing and climate change.

ESM 3 month bill auction results

The result of the auction of 6 April 2021 for the 3-months Bills of the ESM was as follows:
Total Bids: €11,034.00mn
Competitive bids €2,129.00mn
Non-competitive bids €8,905.00mn
Allotment / Issue volume €1,499.45mn

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Klaus Regling and Rolf Strauch at The EUROFI High Level Seminar 2021
ESM Managing Director Klaus Regling and ESM Chief Economist Rolf Strauch will speak at The EUROFI High Level Seminar 2021, organised in association with the Portuguese EU Council. 
Rolf Strauch in interview with Luxembourg for Finance: Podcast “Shaping Finance”

Rolf Strauch in interview with Luxembourg for Finance. Transcript of interview with ESM Chief Economist and Management Board member Rolf Strauch. Luxembourg for Finance in Luxembourg, Luxembourg. Recorded 19 March 2021, published 1 April 2021. Interviewer: Nicolas Mackel

Listen to this episode on your podcast player of your choosing:

ESM announces upcoming 3 month bill auction

The European Stability Mechanism (ESM) will launch 3-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to €1.5 billion is envisaged.

Time schedule of the auction procedure:
Date of invitation to bid: Thursday, 1 April 2021
Bidding period: Tuesday, 6 April 2021, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 8 April 2021

Rolf Strauch at The Economist's event on Greece
ESM Chief Economist Rolf Strauch will speak on the panel "Greece is celebrating an anniversary. With a sustainable debt?" at The Economist's virtual event: "GREECE: 200 YEARS OF ECONOMIC SURVIVAL."
Prof Charles Wyplosz (IHEID) at ESM Research Webinar
'Toward a Top-Down Fiscal Rule' Abstract: Most existing fiscal rules have, at best, a tenuous link to the principle of solvency. Unsurprisingly, they lead to poor results when followed or they are not followed at all. The reason is that solvency is not a practical interpretation of solvency. It proposes a 'top-down' rule that seeks to achieve sustainability not by binding the government with black-box calculations but by requiring that it makes transparent decisions on all aspects of the debt dynamics.