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Jacques Delors Institut – Berlin, Bertelsmann Stiftung (ed.)

ESM Reform: No need to reinvent the wheel

1. edition 2018, 5 Pages (PDF)

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In this blog post, Lucas Guttenberg argues that the ESM does not need a new instrument to provide short-term liquidity to member states. Instead, finance ministers should clarify that some of the existing instruments can be used without recourse to a full adjustment programme, i.e. based only on ex-ante eligibility criteria.