The European Stability Mechanism (ESM) recorded a profit of €1.8 billion in 2024, mainly due to the rise in interest rates on the equities in which it has invested, according to the annual report published by the euro area’s permanent rescue fund on Thursday 19 June.
The Executive Director of the ESM, Pierre Gramegna, welcomed the resilience of the euro area despite an increasingly uncertain macroeconomic environment. In his view, this performance by the ESM would not have been...