Jacques Delors Institute Berlin and Bertelsmann Stiftung (ed.)

Lucas Guttenberg

A missed opportunity – Five reasons why ESM reform will fail to deliver

  • 2019, 8 pp (PDF)
  • Free of charge

In this policy brief, Lucas Guttenberg looks at the planned reform of the European Stability Mechanism (ESM). He argues that while the reform is necessary to finally bring home the backstop for banking union, it clearly falls short of its initial ambition to also substantially improve the Eurozone’s crisis management framework.