Wednesday April 1, 2020

Rehn: ESM will be powerful tool for euro area

European commissioner for monetary affairs Olli Rehn said that allowing the European Stability Mechanism to recapitalise banks is a cornerstone to Europe's response to the debt crisis.

10th July, 2012
Thirty billion euros will be lent to Spain by the end of July.

European commissioner for monetary affairs Olli Rehn said that allowing the European Stability Mechanism to recapitalise banks is a cornerstone to Europe's response to the debt crisis.

The ESM, which is set to replace the current temporary bailout fund, will be a powerful tool in the euro area, he said.

Rehn said he is confident that Spain will adopt convincing measures and that "this will send a strong signal of Spain's commitment to sustainable public...

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