Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough

Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough

Abstract On 9 April 2020, the euro area finance ministers agreed on credit lines with the European Stability Mechanism (ESM) to counter the corona crisis. The ESM loans are estimated at 200 billion euros. However, this figure is misleading. Only a few states would benefit at all over a 10-year gover...

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Main Author: Hans-Bernd Schäfer
Format: Article
Language:deu
Published: Springer 2020-05-01
Series:Wirtschaftsdienst
Online Access:https://doi.org/10.1007/s10273-020-2650-2
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spelling doaj-d23f2120a0d7480dafa3170c48cb6fd22021-05-23T11:23:37ZdeuSpringerWirtschaftsdienst0043-62751613-978X2020-05-01100535135510.1007/s10273-020-2650-2Loans From the European Stability Mechanism to Combat the Corona Crisis are Not EnoughHans-Bernd Schäfer0Bucerius Law School HamburgAbstract On 9 April 2020, the euro area finance ministers agreed on credit lines with the European Stability Mechanism (ESM) to counter the corona crisis. The ESM loans are estimated at 200 billion euros. However, this figure is misleading. Only a few states would benefit at all over a 10-year government bond in their own country. Moreover, the scope of ESM loans is limited.https://doi.org/10.1007/s10273-020-2650-2
collection DOAJ
language deu
format Article
sources DOAJ
author Hans-Bernd Schäfer
spellingShingle Hans-Bernd Schäfer
Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
Wirtschaftsdienst
author_facet Hans-Bernd Schäfer
author_sort Hans-Bernd Schäfer
title Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
title_short Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
title_full Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
title_fullStr Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
title_full_unstemmed Loans From the European Stability Mechanism to Combat the Corona Crisis are Not Enough
title_sort loans from the european stability mechanism to combat the corona crisis are not enough
publisher Springer
series Wirtschaftsdienst
issn 0043-6275
1613-978X
publishDate 2020-05-01
description Abstract On 9 April 2020, the euro area finance ministers agreed on credit lines with the European Stability Mechanism (ESM) to counter the corona crisis. The ESM loans are estimated at 200 billion euros. However, this figure is misleading. Only a few states would benefit at all over a 10-year government bond in their own country. Moreover, the scope of ESM loans is limited.
url https://doi.org/10.1007/s10273-020-2650-2
work_keys_str_mv AT hansberndschafer loansfromtheeuropeanstabilitymechanismtocombatthecoronacrisisarenotenough
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