European Stability Mechanism

European Stability Mechanism

ESM headquarters in Luxembourg City
ESM member states Other EU member states
Formation	27 September 2012 (2012-09-27)
Type	IGO
Legal status	Treaty Establishing the European Stability Mechanism
Headquarters	Luxembourg City, Luxembourg 49°38′07″N 6°10′06″E / 49.63529°N 6.1684°E / 49.63529; 6.1684
Membership	20 (all Member States of the eurozone)
Managing Director	Pierre Gramegna
President of the Board of Governors	Paschal Donohoe
Organs	Board of Governors Board of Directors
Staff	221 by 31 December 2021
Website	esm.europa.eu

Politics of the European Union
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Treaties and Declarations Schuman Declaration (1950) Treaty of Paris (1951) Europe Declaration (1951) Spaak Report (1956) Treaty of Rome (1957) Euratom Treaty (1957) Merger Treaty (1965) Solemn Declaration (1983) Single European Act (1986) Maastricht Treaty (1992) Treaty of Amsterdam (1997) Treaty of Nice (2001) Berlin Declaration (2007) Treaty of Lisbon (2007) Article 7 Article 50 Opt-outs Treaties of accession 1972, 1979, 1985, 1994, 2003, 2005, 2011 Treaties of succession 1984, 2020 Other treaties Schengen Agreement (1985) European Economic Area Agreement (1992) Abandoned treaties and agreements European Constitution (2004) UK membership renegotiation (2015–2016)
Executive institutions European Council President: Costa (PES) Parties List of meetings European Commission Von der Leyen Commission President: Von der Leyen (EPP) Vice Presidents College of Commissioners Civil Service Secretary-General: Juhansone
Legislative institutions Legislative procedure Council of the EU Presidency Poland (January–June 2025) Configurations GAC FAC ECOFIN Eurogroup AGRIFISH EPSCO COMPET TTE ENVI JHA EYC Voting Secretariat Secretary-General: Thérèse Blanchet Directorates-general Council preparatory bodies COREPER Council Working Parties European Parliament (Members) President: Metsola Largest groups EPP (Manfred Weber) S&D (Iratxe García) Member of the European Parliament 10th session (2024–2029) Bureau Vice Presidents Quaestor Conference National parliaments
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Euratom Euratom members Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Associated states Switzerland United Kingdom Nuclear power in the European Union
Economic and Monetary Union Eurozone members Austria Belgium Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Eurogroup President Paschal Donohoe Other currencies in use Bulgarian lev Czech koruna Danish krone Hungarian forint Polish złoty Romanian leu Swedish krona ERM II Enlargement of the eurozone Non Euro countries relationship to Euro Bulgaria Czechia Denmark Hungary Poland Sweden Romania
Schengen Area Austria Belgium Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany Greece Hungary Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Switzerland Non-Schengen area EU member states Cyprus Ireland (Opt-out) ETIAS Prüm Convention Schengen Information System Visa Information System Visa policy of the Schengen Area
European Economic Area EEA members Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Topics EEA Joint Committee EEA National Identity cards Microstates and the European Union
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Defunct bodies European Communities (1958–1993) European Coal and Steel Community European Economic Community European Community Western European Union Convention on the Future of Europe
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The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion. It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).