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Luxembourg - The European Financial Stability Facility (EFSF) on Tuesday raised €5 billion in a dual-tranche deal, issuing two new bonds with a respective maturity of 4 and 39 years.
“Today, we continued to show our presence on different parts of the curve. Both tranches of the issue were well received by our investors. To accommodate the strong demand for today’s deal, we decided to prefund €500 million towards our needs for the second quarter,” said Siegfried Ruhl, EFSF Head of Funding and Investor Relations.
ESM Managing Director Klaus Regling meets with Minister of Economy and Competitiveness of Spain Luis de Guindos.
For more information, please contact an ESM press spokesperson.
For more information, please contact an ESM press spokesperson.
Luxembourg – The European Stability Mechanism on Monday received a loan repayment of €2 billion from the Greek government. The repayment was a contractual obligation with the ESM and follows the sale of an asset by one of the banks that took part in the 2015 banking recapitalisation, financed with ESM loans.
What rules govern the appointment of the ESM Managing Director?
The ESM Treaty describes the rules for the ESM Managing Director’s appointment. The relevant Treaty provisions are Article 5 on the ESM Board of Governors and Article 7 on the Managing Director.
Who appoints the ESM Managing Director?
The ESM Managing Director is appointed by the ESM Board of Governors, which comprises the 19 euro area finance ministers.
"Do Capital Inflows Lead to Misallocation? Interest Rates and Productivity in Small Open Economies"
Daniele Siena is a research economist in the International Macroeconomics Division. He is also teaching at Sciences Po, at Università Cattolica di Milano and at the International Banking and Finance Institute. His research interest are macroeconomics, international & monetary economics.