The Treaty Establishing the European Stability Mechanism stipulated that the organization would be established if member states representing 90% of its capital requirements ratified the founding treaty. This … See more

Article 136 amendment of TFEU
On 16 December 2010 the European Council agreed a two line amendment to Article 136 of the See more

The ESM has an authorised capital of 500 billion euros of which 81 billion is paid-in capital, and the remaining 420 billion, if needed, will be loaned through the issuance of some … See more

Critics have noted that the ESM severely confines the economic sovereignty of its member states and criticise that it provides extensive powers and immunity to the board of ESM … See more

Following the European sovereign debt crisis that resulted in the lending of money to EU states, there has been a drive to reform the functioning of the eurozone in the event of a crisis. … See more

The ESM is an intergovernmental organization established under public international law, and located in Luxembourg City. … See more

The Troika currently negotiates with Spain and Cyprus, about setting up an economic recovery programme in return of providing support with financial … See more