Markets jittery as ESM hits road bumps

Ireland needs the ESM, but legal challenges threaten its introduction, writes Gavin Barrett.

14th July, 2012

For the eurozone, straining to regain market confidence, last week brought complications. The take-off of the European Stability Mechanism, the eurozone's future permanent lender for troubled member states has been delayed.

The ESM, based on an international treaty signed on February 2 by all 17 eurozone states (including Ireland), will enter into force when ratified by states subscribing 90 per cent of its capital (Ireland contributes 1.6 per cent). The eurozone states had intended this...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago