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General TradingE
European Stability Mechanism
The European Stability Mechanism (ESM) is a permanent financial institution established in 2012 to provide financial assistance to eurozone member states experiencing severe financing problems. It serves as a financial firewall to preserve the stability of the eurozone.
Example
“The ESM approved a €86 billion bailout program for Greece in 2015, requiring strict fiscal reforms in return and helping prevent a disorderly exit from the eurozone.”