Time to come home. If the ESM is to stay relevant, it should be reinvented inside the EU
Bertelsmann Stiftung, Gütersloh ; Hertie School. Jacques Delors Centre, Berlin
Bertelsmann Stiftung - Gütersloh
2020
5 p.
epidemic disease ; EU Treaty ; economic recovery ; stabilization ; monetary policy
Policy Brief
12 November 2020
Business economics
English
"When restarting work on reforming the European Stability Mechanism (ESM), the Eurogroup should heed the lessons of the pandemic: The ESM has become politically unviable while there is apparently a lot more flexibility within the EU treaties than previously thought. Therefore, this policy brief argues that the old reform plans should be put to one side and the ESM should be reinvented inside the EU legal order if it is to remain relevant. Such a reinvention would create a coherent crisis management framework that would be politically sustainable in the long run."
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