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Klaus Regling, Managing Director, ESM
“Lessons Learnt From the Crisis” Global Implications of Europe’s Redesign conference, New York, 5 October 2016 (Please check against delivery)
Hospodárske noviny: When Mario Draghi pledged to “do whatever it takes to save the euro” in 2012, it calmed the markets and reduced pressure on highly indebted Eurozone countries. Seemingly, it brought the debt crisis to an end. So why do we still need mechanisms like the ESM?
On 27 September 2016 ESM tapped via auction the 1% Bond of the ESM maturing on 23 September 2025 bringing the total size to €3.99985bn
Luxembourg – The European Stability Mechanism (ESM) today conducted a tap auction of a €3 billion 1% 10-year bond maturing on 23 September 2025. An additional €999.85 million was issued, bringing the total size of the existing bond to nearly €4 billion.
“We continue with our strategy of supporting liquidity in outstanding bonds and increasing their amount over time. Today’s tap auction showed very strong investor demand and allowed us to complete the ESM’s funding needs for the third quarter of 2016,” said Siegfried Ruhl, ESM Head of Funding.