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I am very pleased to be in Athens today and to reconnect with Minister Christos Staikouras, in my new capacity as Managing Director of the ESM. I would like to start by congratulating the Greek government, the people of Greece, and you in particular Christos, for the impressive results of your economy that you have shared with us in the last two Eurogroup meetings that I had the opportunity to attend in my new capacity.

Croatia's Minister of Finance, Mr Marko Primorac met today with Mr Pierre Gramegna, Managing Director of the European Stability Mechanism (ESM). The topics of the meeting were related to the process of Croatia's accession to the ESM and the future cooperation between Croatia and the ESM.

ESM Managing Director, Pierre Gramegna, participates in roundtable, "The Euro as a guarantee of resilience".

The ESM has adjusted the capital contribution keys for 17 of its Members, following the end of the temporary correction period for Estonia.
In line with Article 42 of the ESM Treaty, ESM Members whose GDP per capita is less than 75% of the EU average benefit from a temporary correction of the capital contribution key for a period of 12 years after the date of its adoption of the euro. Apart from Estonia, this correction was applied for Slovenia, Malta, Estonia, Latvia and Lithuania. The temporary correction for Slovenia, Malta and Slovakia ended in 2019, 2020 and 2021, respectively.

Fiskalregeln sind in der Europäischen Währungsunion notwendig, aber unbeliebt. Die Regeln werden oft als „budgetäre Zwangsjacke“ beschrieben. Sie würden es Ländern erschweren, politische Ausgabenversprechen zu erfüllen oder gewünschte öffentliche Investitionen zu erbringen.