The proposed amendments to the Treaty establishing the European Stability Mechanism

17-04-2020

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit (the 2019 ESM reform). Following discussions around an ESM instrument to deal with the coronavirus outbreak, this paper also addresses the agreement reached at the 9 April Eurogroup. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one. This note will be updated in light of relevant developments and it complements a separate EGOV briefing: The European Stability Mechanism: Main Features, Instruments and Accountability.

This document presents the proposed amendments to the Treaty establishing the European Stability Mechanism, following the decisions taken by the Eurogroup and the June 2019 Euro Summit (the 2019 ESM reform). Following discussions around an ESM instrument to deal with the coronavirus outbreak, this paper also addresses the agreement reached at the 9 April Eurogroup. The note outlines the relevant changes and provides a comparison between the current ESM Treaty and the proposed amended one. This note will be updated in light of relevant developments and it complements a separate EGOV briefing: The European Stability Mechanism: Main Features, Instruments and Accountability.