THE INSTRUMENTS PROVIDING MACRO-FINANCIAL SUPPORT TO EU MEMBER STATES
In-Depth Analysis
12-01-2017
This paper revises the European instruments for macro-financial stability providing financial support to member states. Three instruments, created on an ad-hoc basis during the crisis, are temporary and should gradually disappear. One instrument reserved for non-euro area member states, and others targeted at euro area countries remain in place. In the long term, the European Stability Mechanism is likely to become the only instrument for macro-financial assistance, but its current standing outside the EU legal framework needs to be addressed.
In-Depth Analysis
External author
Cinzia ALCIDI, David Rinaldi, Jorge Núñez Ferrer, Danel Gros, Centre for European Policy Studies (CEPS)
About this document
Publication type
Keyword
- balance of payments assistance
- budget policy
- BUSINESS AND COMPETITION
- cooperation policy
- Cyprus
- economic geography
- economic governance (EU)
- EU budget
- EU finance
- EU financing arrangements
- EU institutions and European civil service
- EU loan
- Europe
- European Stability Mechanism
- EUROPEAN UNION
- FINANCE
- financial aid
- financial risk
- financial stability
- financing and investment
- financing method
- free movement of capital
- GEOGRAPHY
- Greece
- Hungary
- INTERNATIONAL RELATIONS
- Ireland
- Latvia
- management
- monetary economics
- monetary relations
- political geography
- Portugal
- powers of the EP
- public finance and budget policy
- redemption of public debt
- risk management
- Romania
- Spain
- transparency in decision-making