Riga Graduate School of Law (RGSL) invites to a lecture on Challenges for the European Recovery on 8 June at 11:00 Riga time online, tackling the impact of the COVID-19 Pandemic in Europe, the policy response, the exit strategy and the recovery.
The speech will be given by Rolf Strauch, ESM Chief Economist, and Jürgen Klaus, ESM Team Lead, Derivatives and Market Intelligence Funding, followed by questions and answers.
Please register for the event here.
Please note, that this is an exclusive opportunity to hear the top experts from the European Stability Mechanism and ask your questions to them, as the participation will be granted to registered participants only, there will be no livestream of the event.
Early 2020 the Covid-19 pandemic struck Europe with a deep impact on our economies and the markets. A swift comprehensive policy response followed at national and European level. This has contained the economic impact of the pandemic. There are spill-over risks from firms to banks and to countries. These risks need to be carefully taken into account for any exit strategy and in view of a sustainable recovery.
The European Stability Mechanism (ESM) has the mandate to preserve financial stability in the euro area by providing financial assistance to Member States with severe financing problems. It is a permanent inter-governmental institution, operating since October 2012. The shareholders of the ESM are the 19 euro area Member States. All financial assistance to Member States is linked to appropriate conditionality. The ESM finances its assistance by issuing bonds and other debt instruments. It has a total subscribed capital of approximately €700 billion, which comprises €80 billion in paid-in capital and €624 billion in committed callable capital. The ESM’s maximum lending capacity is €500 billion.