European Stability Mechanism

European Stability Mechanism

ESM headquarters in Luxembourg City
ESM member states Other EU member states
Formation	27 September 2012 (2012-09-27)
Type	IGO
Legal status	Treaty Establishing the European Stability Mechanism
Headquarters	Luxembourg City, Luxembourg 49°38′07″N 6°10′06″E / 49.63529°N 6.1684°E / 49.63529; 6.1684
Membership	20 (all Member States of the eurozone)
Managing Director	Pierre Gramegna^[1]
President of the Board of Governors	Paschal Donohoe
Organs	Board of Governors Board of Directors
Staff	221 by 31 December 2021^[2]
Website	esm.europa.eu

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Member states (27) Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Candidate countries Albania Bosnia and Herzegovina Georgia Moldova Montenegro North Macedonia Serbia Ukraine Countries with suspended accession negotiations Turkey Applicant countries Kosovo Special territories Belgium–Germany relations France–Germany relations Germany–Netherlands relations EU 3 Withdrawal from the European Union
Treaties and Declarations Schuman Declaration (1950) Treaty of Paris (1951) Europe Declaration (1951) Spaak Report (1956) Treaty of Rome (1957) Euratom Treaty (1957) Merger Treaty (1965) Solemn Declaration (1983) Single European Act (1986) Maastricht Treaty (1992) Treaty of Amsterdam (1997) Treaty of Nice (2001) Berlin Declaration (2007) Treaty of Lisbon (2007) Article 7 Article 50 Opt-outs Treaties of accession 1972, 1979, 1985, 1994, 2003, 2005, 2011 Treaties of succession 1984, 2020 Other treaties Schengen Agreement (1985) European Economic Area Agreement (1992) Abandoned treaties and agreements European Constitution (2004) UK membership renegotiation (2015–2016)
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Euratom Euratom members Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Associated states Switzerland United Kingdom Nuclear power in the European Union Euratom since 1 January 2021
Economic and Monetary Union Eurozone members Austria Belgium Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Eurogroup President Paschal Donohoe Other currencies in use Bulgarian lev Czech koruna Danish krone Hungarian forint Polish złoty Romanian leu Swedish krona ERM II Enlargement of the eurozone Non Euro countries relationship to Euro Bulgaria Czechia Denmark Hungary Poland Sweden Romania Eurozone since 2015
Schengen Area Austria Belgium Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany Greece Hungary Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Switzerland Prüm Convention Schengen Information System Visa Information System Visa policy of the Schengen Area Non-Schengen area EU member states Cyprus Ireland (Opt-out) Schengen Area from January 2023
European Economic Area EEA members Austria Belgium Bulgaria Croatia (provisional member) Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Topics EEA Joint Committee EEA National Identity cards Microstates and the European Union European Economic Area
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Defunct bodies European Communities (1958–1993) European Coal and Steel Community European Economic Community European Community Western European Union Convention on the Future of Europe
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The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion. It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).

^ "Who we are". 18 March 2016.
^ "ESM Annual Report 2021" (PDF).

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European Stability Mechanism

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