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Title: Crisis communication literature review with key takeaways
Summary: This paper is a review of the available literature on crisis communication that is of relevance to the ESM and to public institutions at large.
The aim of the project was to produce key principles of crisis communication by connecting research and practice.
Author:
Maria Luisa Andrisani (former European University Institute)
Maria Luisa Andrisani is a European Commission official who contributed to this handbook during her Visiting Fellowship at the European University Institute
Jakov Bojovic is a Research Fellow at the European University Institute and Scientific Coordinator of the EUI Global Executive Master
Jakov Bojovic (EIU)
Title: Handbook on crisis communication for public institutions
Summary: This handbook on crisis communication is primarily for public institutions, such as governments or international organisations.
The aim of the project was to produce key principles of crisis communication by connecting research and practice.
The famous ‘whatever it takes’ speech by former European Central Bank president Mario Draghi[2] is a testament to how impactful crisis communication can be. Words are the first direct measure that citizens and financial markets react to in crises management. They are an essential tool for maintaining public trust while key reforms and policies take root.
Title: Concessional credit lines for sovereigns in financial distress
Summary: This paper quantitatively assesses the macroeconomic effects of concessional credit lines for sovereigns in financial distress and shows how accessing credit lines could alleviate sovereign risk and contribute to macroeconomic stabilisation.
Authors: Yasin Mimir (ESM), Yasin Kürsat Önder (Ghent University)
The significance of geopolitical risks has resurged in recent years, notably through the impact of armed conflicts (Figure 1). While conflicts worldwide are a growing source of concern, Europe is now also confronted with a war at its doorstep. Deeper geopolitical fragmentation and economic distress between nations and/or regions, further exacerbate uncertainty and instability.
The result of the auction of 1 April 2025 for the 3-month Bills of the ESM was as follows:
Total Bids: € 2,612.00 mn
Competitive bids: € 907.00 mn
Non-competitive bids: € 1,705.00 mn
Allotment / Issue volume: € 1,092.35 mn