‘European Stability Mechanism’, sometimes seen in the news, is an
'European Stability Mechanism', sometimes seen in the news, is an
- Aagency created by the EU to deal with the impact of millions of refugees arriving from the Middle East
- Bagency of EU that provides financial assistance to eurozone countries
- Cagency of EU to deal with all the bilateral and multilateral agreements on trade
- Dagency of EU to deal with the conflict arising among the member countries
Answer and explanation
Correct answer: B
The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone Member States having ratified a special ESM intergovernmental treaty.
It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of 500 billion.