Jacques Delors Institute Berlin and Bertelsmann Stiftung (ed.)

A missed opportunity – Five reasons why ESM reform will fail to deliver

2019, 8 Pages (PDF)

Free of charge


In this policy brief, Lucas Guttenberg looks at the planned reform of the European Stability Mechanism (ESM). He argues that while the reform is necessary to finally bring home the backstop for banking union, it clearly falls short of its initial ambition to also substantially improve the Eurozone’s crisis management framework.


Lucas Guttenberg