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ESM approves waiver of Cyprus’s mandatory repayment obligation

(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.
 

How to complete the European monetary union? - speech by Klaus Regling
Klaus Regling, ESM Managing Director
Keynote speech “How to complete the European monetary union?”
London School of Economics German Symposium
London, 5 February 2020

 

Cyprus: why an efficient insolvency and foreclosure framework matters - speech by Paolo Fioretti
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

 

EU000A2SB9D4
Finding complementarities in IMF and RFA toolkits
Download PDF: Discussion Paper 8

 

Authors: Gong Cheng, Dominika Miernik and Teuta Turani (all European Stability Mechanism)*
 

The ESM: euro area financial stability in safe hands - speech by Rolf Strauch
Rolf Strauch, ESM Chief Economist
“The ESM – euro area financial stability in safe hands”
Lecture at Erasmus School of Economics
Rotterdam, 31 January 2020


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Klaus Regling at the London School of Economics
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Kalin Anev Janse at Trier University
Staff statement following the fifth post-programme mission to Greece
Staff from the European Commission, in liaison with staff from the European Central Bank, visited Athens from 22 to 24 January for the fifth post-programme mission to Greece. [1] Staff from the IMF participated in the context of its Post-Programme Monitoring (PPM) framework. Staff from the European Stability Mechanism participated in the context of its Early Warning System.
Klaus Regling in interview with Bloomberg TV
Transcript of interview with ESM Managing Director Klaus Regling
Bloomberg TV in Davos, Switzerland
24 January 2020
Interviewer: Francine Lacqua

 
Do you worry that political instability, which is not really at the forefront, but it's not political stability in Europe, means that it's more difficult to make reforms needed to protect the euro and the euro area in tough times?