The amendment of the European Stability Mechanism

The depth of the economic crisis that began in 208 led to financial stabilization instruments in the European Union (EU). After a period of transience and provisionally, the European Stabilization Mechanism (ESM) allowed the Economic and Monetary Union (EMU) countries to consolidate a permanent fina...

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Autor: Olesti Rayo, Andreu
Tipo de recurso: artículo
Estado:Versión publicada
Fecha de publicación:2022
País:España
Institución:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
Repositorio:Recercat. Dipósit de la Recerca de Catalunya
OAI Identifier:oai:recercat.cat:2445/225215
Acceso en línea:https://hdl.handle.net/2445/225215
Access Level:acceso abierto
Palabra clave:Zona euro
Tractats
Unions monetàries
Eurozone
Treaties
Monetary unions
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spelling The amendment of the European Stability MechanismOlesti Rayo, AndreuZona euroTractatsUnions monetàriesEurozoneTreatiesMonetary unionsThe depth of the economic crisis that began in 208 led to financial stabilization instruments in the European Union (EU). After a period of transience and provisionally, the European Stabilization Mechanism (ESM) allowed the Economic and Monetary Union (EMU) countries to consolidate a permanent financial assistance fund. In 2017, the Commission proposed revising the ESM to revoke its international organizational character and transform it into an EU agency included in the EU's institutional structure. The strong opposition of some Member States (MS) has avoided this possibility. The ESM Treaty has been revised and signed by the Eurozone states and maintains its intergovernmental nature. In any case, some new functions have been added, including its establishment as the Single Resolution Fund (SRF) backstop facility only in case of extreme need and when its liquidity is insufficient. Creating this support to the SRF is essential for consolidating the Banking Union.Universitat de Barcelona2026202620222026info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersion20 p.application/pdfhttps://hdl.handle.net/2445/225215Articles publicats en revistes (Dret Penal i Criminologia, i Dret Internacional Públic i Relacions Internacional)reponame:Recercat. Dipósit de la Recerca de Catalunyainstname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)InglésReproducció del document publicat a: https://rieel.com/index.php/rieel/issue/view/2Review of International & European Economic Law, 2022, vol. 1, num.1, p. 84-103cc-by (c) Andreu Oleti-Rayo, 2022http://creativecommons.org/licenses/by/4.0/info:eu-repo/semantics/openAccessoai:recercat.cat:2445/2252152026-05-29T05:05:01Z
dc.title.none.fl_str_mv The amendment of the European Stability Mechanism
title The amendment of the European Stability Mechanism
spellingShingle The amendment of the European Stability Mechanism
Olesti Rayo, Andreu
Zona euro
Tractats
Unions monetàries
Eurozone
Treaties
Monetary unions
title_short The amendment of the European Stability Mechanism
title_full The amendment of the European Stability Mechanism
title_fullStr The amendment of the European Stability Mechanism
title_full_unstemmed The amendment of the European Stability Mechanism
title_sort The amendment of the European Stability Mechanism
dc.creator.none.fl_str_mv Olesti Rayo, Andreu
author Olesti Rayo, Andreu
author_facet Olesti Rayo, Andreu
author_role author
dc.subject.none.fl_str_mv Zona euro
Tractats
Unions monetàries
Eurozone
Treaties
Monetary unions
topic Zona euro
Tractats
Unions monetàries
Eurozone
Treaties
Monetary unions
description The depth of the economic crisis that began in 208 led to financial stabilization instruments in the European Union (EU). After a period of transience and provisionally, the European Stabilization Mechanism (ESM) allowed the Economic and Monetary Union (EMU) countries to consolidate a permanent financial assistance fund. In 2017, the Commission proposed revising the ESM to revoke its international organizational character and transform it into an EU agency included in the EU's institutional structure. The strong opposition of some Member States (MS) has avoided this possibility. The ESM Treaty has been revised and signed by the Eurozone states and maintains its intergovernmental nature. In any case, some new functions have been added, including its establishment as the Single Resolution Fund (SRF) backstop facility only in case of extreme need and when its liquidity is insufficient. Creating this support to the SRF is essential for consolidating the Banking Union.
publishDate 2022
dc.date.none.fl_str_mv 2022
2026
2026
2026
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/225215
url https://hdl.handle.net/2445/225215
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Reproducció del document publicat a: https://rieel.com/index.php/rieel/issue/view/2
Review of International & European Economic Law, 2022, vol. 1, num.1, p. 84-103
dc.rights.none.fl_str_mv cc-by (c) Andreu Oleti-Rayo, 2022
http://creativecommons.org/licenses/by/4.0/
info:eu-repo/semantics/openAccess
rights_invalid_str_mv cc-by (c) Andreu Oleti-Rayo, 2022
http://creativecommons.org/licenses/by/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv 20 p.
application/pdf
dc.publisher.none.fl_str_mv Universitat de Barcelona
publisher.none.fl_str_mv Universitat de Barcelona
dc.source.none.fl_str_mv Articles publicats en revistes (Dret Penal i Criminologia, i Dret Internacional Públic i Relacions Internacional)
reponame:Recercat. Dipósit de la Recerca de Catalunya
instname:Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
instname_str Varias* (Consorci de Biblioteques Universitáries de Catalunya, Centre de Serveis Científics i Acadèmics de Catalunya)
reponame_str Recercat. Dipósit de la Recerca de Catalunya
collection Recercat. Dipósit de la Recerca de Catalunya
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.812429

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