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Reform des Europäischen Stabilitätsmechanismus — eine Einordnung

Reform of the European Stability Mechanism — A Classification

  • Analysen und Berichte
  • EWU
  • Open Access
  • Published: 19 January 2021
  • volume 101, pages 54–57 (2021)
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Wirtschaftsdienst
Reform des Europäischen Stabilitätsmechanismus — eine Einordnung
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  • Jürgen Matthes1 
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Zusammenfassung

Ende November 2020 wurde eine Reform des Europäischen Stabilitätsmechanismus beschlossen, die nicht unterschätzt werden sollte. Im Mittelpunkt steht die Einführung einer staatlichen Letztabsicherung für den europäischen Bankenrettungsfonds ab 2022. Doch auch weitere Änderungen sind relevant und werden in diesem Beitrag eingeordnet.

Abstract

At the end of November 2020, a reform of the European Stability Mechanism was adopted that should not be underestimated. The article focuses on the introduction of a common fiscal backstop for the European Single Resolution Fund from 2022, as well as other relevant changes. Additionally, the article provides a political evaluation.

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Literatur

  • Busch, B. und J. Matthes (2015), Regeln für Staatsinsolvenzen im Euroraum, IW-Analyse, Nr. 104.

  • ESM (2020a), Agreement Amending the Treaty Establishing the European Stability Mechanism, https://www.consilium.europa.eu/media/47294/sn04244-en19.pdf (20. Dezember 2020).

  • ESM (2020b), ESM Treaty Reform — Explainer, https://www.esm.europa.eu/about-esm/esm-treaty-reform-explainer#ui-id-1 (20. Dezember 2020).

  • ESM (2020c), ESM-Reform, https://www.esm.europa.eu/about-esm/esmreform u.a. (20. Dezember 2020).

  • ESM (2020d), Treaty Establishing the European Stability Mechanism, https://www.esm.europa.eu/sites/default/files/20150203_-_esm_treaty_-_en.pdf (20. Dezember 2020).

  • ESM (2020e), European Stability Mechanism Guideline on Precautionary Financial Assistance, https://www.esm.europa.eu/sites/default/files/esm_guideline_on_precautionary_financial_assistance.pdf (20. Dezember 2020).

  • European Commission Services, ECB und SRB (2020), Monitoring Report on Risk Reduction Indicators, November, Brüssel, https://www.consilium.europa.eu/media/46978/joint-risk-reduction-monitoring-report-to-eg_november-2020_for-publication.pdf (20. Dezember 2020).

  • Eurogruppe (2020), Statement of the Eurogroup in inclusive format on the ESM reform and the early introduction of the backstop to the Single Resolution Fund, Press Release, 30. November, https://www.consilium.europa.eu/en/press/press-releases/2020/11/30/statement-of-the-eu-rogroup-in-inclusive-format-on-the-esm-reform-and-the-early-intro-duction-of-the-backstop-to-the-single-resolution-fund/ (20. Dezember 2020).

  • Matthes, J. (2017), A European Monetary Fund — Considerations of Design, Politics and a Preliminary Evaluation, CESifo-Forum, 18(3), 16–20.

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Author information

Authors and Affiliations

  1. Internationale Wirtschaftspolitik, Institut der deutschen Wirtschaft Köln e.V., Konrad-Adenauer-Ufer 21, 50668, Köln, Deutschland

    Jürgen Matthes

Authors
  1. Jürgen Matthes
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Corresponding author

Correspondence to Jürgen Matthes.

Additional information

Jürgen Matthes ist Senior Economist und Leiter des Kompetenzfelds „Internationale Wirtschaftsordnung und Konjunktur“ im Institut der deutschen Wirtschaft.

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Open Access: Dieser Artikel wird unter der Creative Commons Namensnennung 4.0 International Lizenz (https://creativecommons.org/licenses/by/4.0/deed.de) veröffentlicht.

Open Access wird durch die ZBW — Leibniz-Informationszentrum Wirtschaft gefördert.

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Cite this article

Matthes, J. Reform des Europäischen Stabilitätsmechanismus — eine Einordnung. Wirtschaftsdienst 101, 54–57 (2021). https://doi.org/10.1007/s10273-021-2825-5

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  • Published: 19 January 2021

  • Issue Date: January 2021

  • DOI: https://doi.org/10.1007/s10273-021-2825-5

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JEL Classification

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  • G01
  • O52
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