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As an institution created by euro area countries, the ESM works very closely with its Members. Each country is represented in the Board of Governors – the ESM’s highest decision-making body – by its minister of finance. The Board’s most important decisions require unanimous agreement, including decisions to lend funds to an ESM Member.  

Luxembourg – European Stability Mechanism (ESM) has today launched and priced 2 bills and 3 floating rate notes for a total amount of close to €39.5 billion for the financial assistance to be provided for the recapitalisation of the Spanish banking sector. The ESM notes will be transferred to the FROB*, the bank recapitalisation fund of the Spanish government, in the coming days.

STATEMENTS AND REMARKS
105/16
07/03/2016

The Eurogroup supports the Cypriot government's decision to exit its macroeconomic adjustment programme without a successor arrangement. The Eurogroup commends the Cypriot authorities for the overall successful implementation of the programme and the important achievements made in the past three years, and also thanks the institutions for their vital contribution towards this end.

Interview with Klaus Regling, Managing Director, ESM

Published in To Vima

13 December 2015

English Transcript

Could you explain why Greece remains the only eurozone country still in an adjustment program? Do you understand why we had to reach the brink of collapse before an agreement was reached?

Transcript of interview with Klaus Regling, Managing Director, ESM

Published in the Wall Street Journal

12 April 2016

Transcript of statement by ESM Managing Director Klaus Regling

Press conference following Eurogroup meeting

22 April 2016

A few words on Greece from the ESM perspective: I can confirm what you already heard, that there has been good progress in Athens; there was good cooperation among the institutions, and also with the Greek authorities. And I welcome that there is now an overall agreement on the package of fiscal measures and key structural reforms.