ECONOMY - FINANCE - BUSINESS / Eurozone

Ratification of ESM reform remains on track

Brussels, 17/06/2021 (Agence Europe)

The ratification process of the reform of the European Stability Mechanism (ESM), the euro area’s bailout fund, should be completed by the end of 2021 as planned (see EUROPE B12613A4).

We expect the ESM reform to come into force “by January next year”, said Eurogroup President Paschal Donohoe, who chairs the ESM board, whose annual meeting was held on the sidelines of the Eurogroup on Thursday 17 June.

If this is the case, the ESM will become the backstop of the Single Resolution Fund...