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Eurogroup agrees to proceed with ESM reform and early introduction of backstop to SRF

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Published on: 01 December 2020

Published by LNB News

LNB News 01/12/2020

Document Information

Issue Date: 01 December 2020

Published Date: 01 December 2020

Jurisdiction(s): United Kingdom

Article summary

The Eurogroup has announced that it has agreed to proceed with the reform of the European Stability Mechanism (ESM), to sign the revised Treaty in January 2021 and launch the ratification process. It has also agreed to introduce the common backstop to the Single Resolution Fund (SRF) early, so that it will be in force by the beginning of 2022. The Eurogroup says these decisions are another important step towards completing the banking union.

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