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!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Newsround: What Thursday’s papers say