Mes, Eurogroup agreement on reform

2020-11-30T21:09:03.984Z

Agreement with the Eurogroup of finance ministers on the ESM reform. This was reported by EU Council sources, specifying that the "backstop", the project for a safety net financed by the Mes for the single resolution fund of the banks, was also approved at the meeting. The meeting, which took place via videoconference, ended around 8 pm. Donohoe: backstop from the beginning of 2022 In today's Eurogroup in videoconference "we reached an agreement on the ratification of the reform of the treaty of the European Stability Mechanism. treaty will be in January ", after which" the national ratification procedures will start. Today we also agreed to introduce the backstop "for the Single Resolution Board" at the beginning of 2022, two years ahead of schedule. This was stated by the president of the Eurogroup Paschal Donohoe, at a press conference at the end of the meeting.