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Why the Covid-19 credit line still makes sense
It is two months since the ESM became part of Europe’s response to the devastating Covid-19 pandemic crisis. Europe agreed that the ESM should provide a credit line worth up to €240 billion to help euro area member states cover healthcare costs related to Covid-19.

In that time, there has been much speculation around which countries would apply, as we identified that 11 of the 19 euros area countries could fund more cheaply via the ESM than by borrowing directly from capital markets.

How Europe’s pandemic response reduced market uncertainty
The eruption of the Covid-19 pandemic resulted in large market movements, as investors feared the financial and economic consequences of the crisis.
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Same crisis, different responses to Covid-19
Covid-19 painfully hit Europe and Asia. Policymakers in both regions reacted swiftly to the unprecedented downturn with large rescue packages but with different policy actions. Chief Economists Hoe Ee Khor from AMRO and Rolf Strauch from ESM explain why.

The Covid-19 pandemic has resulted in more than 20 million confirmed infections worldwide and more than 730,000 deaths up to now. Countries in Europe and Asia have been severely affected by the pandemic and the subsequent economic crisis.

ESM Board of Governors appoints Paschal Donohoe as its Chairperson

(Luxembourg) – The Board of Governors of the European Stability Mechanism (ESM) appointed the President of the Eurogroup Paschal Donohoe as its Chairperson, effective from 17 July 2020. In this capacity Mr Donohoe succeeds Mário Centeno.

Previous Chairpersons of the ESM Board of Governors
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Regional disparities in Europe: should we be concerned?
Download PDF: Discussion Paper 13

Authors: Gergely Hudecz, Edmund Moshammer, and Thomas Wieser

Webinar interview with Siegfried Ruhl
Transcript of webinar interview with ESM Head of Funding and Investor Relations Siegfried Ruhl
Global Capital “Crisis Talks” Series, conducted 6 July 2020
Published 15 July 2020
Interviewer: Burhan Khadbai

 
Firstly, how does this crisis compare to the eurozone sovereign debt crisis or indeed any other crisis that Europe has faced?
 

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Institutional Insider: Virtual decision-making – the “new normal”?
During the pandemic, virtual meetings became the new normal. Did the virtual format affect institutional decision-making or the outcomes of meetings? What have been the challenges for those behind the scenes in high-level meetings?