The European Stability Mechanism (ESM) was inaugurated in Luxembourg on Monday, 8 October. The launch press conference video is at this link. Two high-level reports on the European banking sector have been published: The Expert Group on Reforming the Structure of the EU Banking Sector presented its final report on 2 October. The European Banking Authority issued its final report on the EU-wide bank recapitalisation exercise on 3 October.

German Constitutional Court backs eurozone’s ESM bailout fund The long awaited ruling of the German Federal Constitutional Court on the constitutional validity of the  eurozone’s new permanent bailout fund, the European Stability Mechanism (ESM), was issued on September 12th and resulted in a conditional “yes” for the ESM and the Fiscal Compact. As you can […]