Treaty Establishing the European Stability Mechanism

E97870

founding treaty intergovernmental agreement international treaty

The Treaty Establishing the European Stability Mechanism is an international agreement among euro area member states that created the permanent bailout fund designed to safeguard financial stability in the eurozone.

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Observed surface forms (2)

Surface form	Occurrences
ESM Treaty	2
Treaty establishing the European Stability Mechanism	2

Statements (62)

Predicate	Object
instanceOf	founding treaty ⓘ intergovernmental agreement ⓘ international treaty ⓘ
allocatesCapitalAccordingTo	European Central Bank capital key (adjusted to euro area members) ⓘ
appliesTo	euro area member states ⓘ Eurozone ⓘ surface form: eurozone
cameIntoOperationOn	2012-10-08 ⓘ
conditionalityImplementedWith	macroeconomic adjustment programmes ⓘ
containsProvision	emergency voting procedure with qualified majority ⓘ irrevocable and unconditional capital subscription by members ⓘ preferred creditor status for the European Stability Mechanism ⓘ unanimity voting for key decisions in the Board of Governors ⓘ
cooperatesWith	European Central Bank ⓘ European Commission ⓘ International Monetary Fund ⓘ
creates	permanent crisis resolution mechanism for the euro area ⓘ
definesInstitution	Board of Governors of the European Stability Mechanism ⓘ surface form: Board of Directors of the European Stability Mechanism Board of Governors of the European Stability Mechanism ⓘ Managing Director of the European Stability Mechanism ⓘ
enteredIntoForceOn	2012-09-27 ⓘ
establishes	European Stability Mechanism NERFINISHED ⓘ
hasDepositary	General Secretariat of the Council ⓘ surface form: General Secretariat of the Council of the European Union
hasLegalBasis	Article 136(3) of the Treaty on the Functioning of the European Union ⓘ
hasOriginalSignatories	Austria NERFINISHED ⓘ Belgium NERFINISHED ⓘ Cyprus ⓘ Estonia NERFINISHED ⓘ Euro area member states at time of signature ⓘ Finland ⓘ France ⓘ Germany NERFINISHED ⓘ Greece ⓘ Ireland ⓘ Italy ⓘ Luxembourg ⓘ Malta ⓘ Netherlands ⓘ Portugal ⓘ Slovakia ⓘ Slovenia ⓘ Spain ⓘ
hasPurpose	provide financial assistance to euro area member states experiencing or threatened by severe financing problems ⓘ safeguard financial stability in the euro area ⓘ
hasShortName	Treaty Establishing the European Stability Mechanism self-linksurface differs ⓘ surface form: ESM Treaty
language	all official languages of the European Union ⓘ
providesInstrument	loans for bank recapitalisation via member states ⓘ loans to member states ⓘ precautionary financial assistance ⓘ primary market purchases of sovereign bonds ⓘ secondary market purchases of sovereign bonds ⓘ
region	European Union ⓘ
replaces	European Financial Stability Facility ⓘ surface form: European Financial Stabilisation Mechanism (as main euro area bailout tool) European Financial Stability Facility ⓘ surface form: temporary European Financial Stability Facility
requires	strict conditionality attached to financial assistance ⓘ
setsAuthorizedCapitalStock	700000000000 EUR ⓘ
setsPaidInCapital	80000000000 EUR ⓘ
signedAt	Brussels, Belgium ⓘ surface form: Brussels
signedOn	2012-02-02 ⓘ
subjectMatter	economic and monetary union ⓘ financial stability ⓘ sovereign debt crisis management ⓘ
wasEnabledBy	European Council Decision 2011/199/EU ⓘ

Referenced by (6)

Full triples — surface form annotated when it differs from this entity's canonical label.

Board of Directors → compositionDeterminedBy → Treaty Establishing the European Stability Mechanism ⓘ

subject surface form: Board of Directors of the European Stability Mechanism

this entity surface form: ESM Treaty

Board of Governors → establishedBy → Treaty Establishing the European Stability Mechanism ⓘ

subject surface form: Board of Governors of the European Stability Mechanism

this entity surface form: Treaty establishing the European Stability Mechanism

Treaty Establishing the European Stability Mechanism → hasShortName → Treaty Establishing the European Stability Mechanism self-linksurface differs ⓘ

this entity surface form: ESM Treaty

Board of Governors → legalBasis → Treaty Establishing the European Stability Mechanism ⓘ

subject surface form: Board of Governors of the European Stability Mechanism

this entity surface form: Treaty establishing the European Stability Mechanism

European Stability Mechanism → legalBasis → Treaty Establishing the European Stability Mechanism ⓘ

ESM → treatyBasis → Treaty Establishing the European Stability Mechanism ⓘ

subject surface form: European Stability Mechanism