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“Revisiting the EU fiscal framework in an era of low interest rates”
Dr. Olivier Blanchard
"Collateral Eligibility of Corporate Debt in the Eurosystem"
Abstract: Under the unique institutional framework of the Eurosystem, we study how central bank collateral eligibility of corporate bonds induces externalities that help the ECB to fulfill its policy mandate. Using the eligible asset list of the Eurosystem Collateral Framework, we identify the first inclusion date of both individual bonds and issuer firms.
(Luxembourg) - The Board of Directors of the European Stability Mechanism (ESM) agreed today to waive Cyprus’s mandatory repayment obligation of ESM loans in connection with its early repayment to the International Monetary Fund (IMF).
Under the ESM loan agreement with Cyprus, upon early repayment to the IMF, a proportional amount of the financial assistance provided by the ESM becomes immediately due and payable. The waiver granted by the ESM means that Cyprus would not be required to make such early repayment to the institution.
Klaus Regling, ESM Managing Director
Keynote speech “How to complete the European monetary union?”
London School of Economics German Symposium
London, 5 February 2020
Keynote speech “How to complete the European monetary union?”
London School of Economics German Symposium
London, 5 February 2020
Paolo Fioretti, ESM Deputy Head of Banking
“Cyprus - why an efficient insolvency and foreclosure framework matters”
Conference on Indebtedness and NPLs’ Achievements and challenges'
Nicosia, 5 February 2020
“Cyprus - why an efficient insolvency and foreclosure framework matters”
Conference on Indebtedness and NPLs’ Achievements and challenges'
Nicosia, 5 February 2020
Download PDF: Discussion Paper 8
Authors: Gong Cheng, Dominika Miernik and Teuta Turani (all European Stability Mechanism)*
Rolf Strauch, ESM Chief Economist
“The ESM – euro area financial stability in safe hands”
Lecture at Erasmus School of Economics
Rotterdam, 31 January 2020
“The ESM – euro area financial stability in safe hands”
Lecture at Erasmus School of Economics
Rotterdam, 31 January 2020
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