Is the ESM the eurozone’s best weapon against Covid-19?


The eurozone’s best option to address the debt sustainability challenge posed by Covid-19 may entail a shared programme provided by the European Stability Mechanism (ESM).

But there are many obstacles – economic and political – to overcome before Europe can mutualise even a portion of its debts.

Former Eurosystem officials stress the need to provide immediate help to economies under stress, prioritising the healthcare sector, and liquidity measures to prevent the disappearance of companies

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: