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Resilience of countries that benefited from financial assistance
Spillovers, or contagion, raised the cost of the crisis for the euro area.
A key challenge in the euro area debt crisis was contagion: stress in one member state affecting financial markets in another.
The Board of Governors (composed of the 19 euro area finance ministers) holds its annual meeting at the ESM premises in Luxembourg during which it approves the ESM Annual Report, submitted by the Managing Director. The ESM Annual Report includes a description of the policies and activities of the ESM; the ESM Financial Statements; the external auditor's report, and the Board of Auditors' report in respect of the ESM Financial Statements.
Staff statement following the eleventh post-programme surveillance mission to Ireland
Staff from the European Commission, in liaison with staff from the European Central Bank, visited Dublin from 21 to 24 May for the eleventh post-programme surveillance (PPS) mission to Ireland.[1] Staff from the European Stability Mechanism (ESM) also participated in the mission in the context of its Early Warning System.
Staff from the European Commission, in liaison with staff from the European Central Bank, visited Dublin from 21 to 24 May for the eleventh post-programme surveillance (PPS) mission to Ireland.[1] Staff from the European Stability Mechanism (ESM) also participated in the mission in the context of its Early Warning System.
Interview with Rolf Strauch, ESM Chief Economist
Published by Cyprus News Agency
Published by Cyprus News Agency
27 May 2019
Interviewer: Gregoris Savva
Original language: English
Rolf Strauch, ESM Chief Economist
“Keeping a deepened euro area on the agenda”
Annual Lecture in Economics 2019 Nicosia, 23 May 2019
“Keeping a deepened euro area on the agenda”
Annual Lecture in Economics 2019 Nicosia, 23 May 2019
Moment is near for multipolar reserve system (Financial Times, 22 May 2019)
Gillian Tett writes: “The dollar will dominate for a while yet” (May 17). She may have forgotten that history is often a lesson for the future.