Search

Dong-A Ilbo: How do you see the re-election of US President-elect Donald Trump affecting the global economy, including Europe?

Kathimerini: Greece is making an early repayment - of almost €8 billion - of the first bilateral loan it received from euro area countries through the Greek Loan Facility (GLF) in 2010. What does this move mean and how does it help the Greek economy? 

The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) gave their consent today to the merger of the Hellenic Financial Stability Fund (HFSF) with the Hellenic Corporation of Assets and Participations (HCAP). 

This follows the request of the Greek government of 5 November 2024, seeking approval for the merger by the ESM and EFSF, as the prior consent of both institutions is required for any transfer or assignment of HFSF's rights or obligations under the relevant loan agreements.

Title: Broadening the scope of risk sharing through a European backstop for natural catastrophes

Authors: Martin Hahn (International Association of Insurance Supervisors), Bernhard Mayr (ESM)

The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) agreed today to waive the mandatory repayment obligation of ESM/EFSF loans in connection with an early repayment to Greek Loan Facility (GLF) lenders. 

Title: Option-implied bond spread risk

Summary: This paper uses bond-option data to gauge market uncertainty and the magnitude of potential yield and spread moves in case of shocks to sovereign debt markets.     

Geoeconomic fragmentation, the reversal of progress towards global economic and financial integration due to political and military conflict and strategic policy decisions, is rising. Major shocks such as the global financial crisis and the Covid-19 pandemic exposed the vulnerabilities of an interconnected world.