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The European Stability Mechanism (ESM) has mandated Scope Ratings, an EU-based credit rating agency, to rate its creditworthiness alongside existing agencies. The appointment supports the ESM’s market access, competition in the credit rating market, and strengthens European capital markets. With this mandate, Scope’s previously unsolicited long-term AAA and short-term S-1+ ESM ratings with stable outlooks have become solicited ratings.
The European Stability Mechanism (ESM) will launch 3-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.1 billion is envisaged.
Time schedule of the auction procedure:
Date of invitation to bid: Monday, 31 March 2025
Bidding period: Tuesday, 1 April 2025, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 3 April 2025
Interview with ESM Managing Director Pierre Gramegna
Interview conducted on 25 March 2025
Interviewers: Zheng MA (Xinhua), Qing NA (Caixin) and Carol YANG (South China Morning Post)
Original language: English
What are the agenda and priorities for your trip this year?
The ESM has been doing roadshows in China on a regular basis. China has been a regular investor in the ESM from the beginning.
Today, EFSF, the European Financial Stability Facility, rated Aaa (Moody’s) / AA- (Fitch) / AA- (S&P), has sent a Request for Proposal to a selection of banks from the EFSF/ESM Market Group with regards to an upcoming transaction, subject to market conditions.
Transcript of interview with Pierre Gramegna, ESM Managing Director
CNBC Capital Connection, 26 March 2025
Interviewer: Dan Murphy
CNBC: We have to begin with a state of play on where Europe stands right now, particularly as we see the Trump administration continuing to ratchet up these trade and tariff threats. First of all, give me your honest assessment of the state of play. Do you think the EU has lost leverage when it comes to these trade negotiations with Washington?
Interview with ESM Managing Director Pierre Gramegna
Broadcast on China Global Television Network, CGTN (China)
Interview conducted on 25 March 2025
Interviewer: Xin GUAN
Original language: English
CGTN: What are the focus areas of your visit to China this time, particularly in terms of enhancing further cooperation between the ESM and China?
“Financial markets and economic growth: How is the current geopolitical turmoil affecting the markets?”
Opening remarks at 20th Annual Cyprus Summit
Nicosia, 21 November 2024
‘’Geopolitical tensions lead to uncertainty and geo-economic fragmentation, which distorts trade flows, disrupts supply chains, and poses a risk to financial stability. It highlights the importance of European integration for Cyprus.’’
The result of the auction of 18 March 2025 for the 6-months Bills of the ESM was as follows:
Total Bids: € 2,647.00 mn
Competitive bids: € 748.00 mn
Non-competitive bids: € 1,899.00 mn
Allotment / Issue volume: € 1,097.23 mn