The European Stability Mechanism is reorganising its management structure to help it deal with its increased size and powers, it announced on July 17.
The ESM will be reshuffling several management board members’ responsibilities and will introduce an additional board member, its statement said. The changes will take effect on September 15. The European Union agency was set up in 2012 to provide loans to distressed eurozone countries.
“The new structure will make the ESM’s management more