Jacques Delors Institut – Berlin, Bertelsmann Stiftung (ed.)

ESM Reform: No need to reinvent the wheel

Format Type
Date of publication
1. edition
5 pages, PDF


Free of charge


In this blog post, Lucas Guttenberg argues that the ESM does not need a new instrument to provide short-term liquidity to member states. Instead, finance ministers should clarify that some of the existing instruments can be used without recourse to a full adjustment programme, i.e. based only on ex-ante eligibility criteria.

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