MES/ESM in un passaggio dice: "A scopo illustrativo, per una durata media del finanziamento di 7 anni, il rendimento sarebbe pari a -0,26% e per 10 anni sarebbe -0,12%."
New ESM Blog post
By Kalin Anev Janse and Siegfried Ruhl.
It is two months since the ESM became part of Europe’s response to
the devastating Covid-19 pandemic crisis. Europe agreed that the ESM
should provide a credit line worth a total of €240 billion to help euro
area Member States cover healthcare costs related to Covid-19.
In that time, there has been much speculation around which countries
would apply, as we identified that 11 of the 19 euros area countries
could fund more cheaply via the ESM than by borrowing directly from
capital markets.
We made those findings public with an extensive ESM blog published on
3 June, which explained how the new Pandemic Crisis Support credit line
works and illustrated how much Member States could save by opting for
this facility.
Read the blog here
Check out our other blog posts and columns here
Contact the ESM Blog
About ESM
The
European Stability Mechanism (ESM) has the mandate to preserve
financial stability in the euro area by providing financial assistance
to member states with severe financing problems. It is a permanent
inter-governmental institution, operating since October 2012. The
shareholders of the ESM are the 19 euro area member states. The ESM
finances its assistance by issuing bonds and other debt instruments. It
has a total subscribed capital of approximately €700 billion, which
comprises €80 billion in paid-in capital and €624 billion in committed
callable capital. The ESM’s maximum lending capacity is €500 billion.
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