1 fills the gap in the rescue structure of the euro zone and is a historic moment for the euro zone. The euro zone countries have finally reached a consensus on major issues and made some substantial progress in dealing with the debt crisis.
2. American credit rating agencies Fitch and Moody's rated ESM AAA, which played an important role in boosting market confidence in the euro zone. The formal entry into force of ESM can not only provide immediate "fire support" for large-scale rescue operations in the euro zone, but also play a more important role in stabilizing market confidence, so that crisis countries can get more financial support from the market.
Introduction to the European Stability Mechanism: The European Stability Mechanism (ESM) was approved at the European Summit on March 25-26, 201/KLOC-0. ESM consists of 80 billion euros in cash and 620 billion euros in call capital. It is predicted that ESM will replace the current european financial stability facility (EFSF) by the middle of 20 13 years. Its main task is to provide financial assistance to EU member states. On 20 12, 10 10, the European stability mechanism came into effect.
The main task of the European Stability Mechanism is to provide financial assistance to member countries under strict conditions, maintain the sustainability of the national debt of recipient countries, and at the same time improve the ability of recipient countries to raise funds from financial markets.
Headquartered in Luxembourg, the Council of the European Stability Mechanism is composed of finance ministers of seven countries in the euro zone/KLOC-0, and major decisions on its operation will be made by the finance ministers of each country.