European Stability Mechanism (ESM)
Eurozone firewall inaugurated as bailouts loom
First meeting of board of governors of the European Stability Mechanism held in Luxembourg with Jean-Claude Juncker describing new institution as a ‘permanent and effective firewall’
Bundesbank criticises ECB bond-buying proposals
Decision to share solvency risks should be taken by European governments not the ECB, says Deutsche Bundesbank; warns German government debt ratio likely to rise this year
Netherlands Bank paper analyses optimal size of ESM
Paper studies motivations for contributing to the European Stability Mechanism; finds the fund may need to increase in size
Eurogroup decides on three senior appointments
Decisions end speculation over leadership of the Eurogroup and the European Stability Mechanism; nomination also put forward for empty seat on ECB executive board