The ESM is the crisis resolution mechanism for euro area countries. Follow us here for EFSF tweets as well. #ESMeuro
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๐ง๐ต๐ฒ ๐๐๐ฆ๐ ๐ต๐ฎ๐ ๐ฎ๐ฝ๐ฝ๐ฟ๐ผ๐๐ฒ๐ฑ ๐ฎ๐ป ๐๐ฝ๐ณ๐ฟ๐ผ๐ป๐ ๐๐ฎ๐ถ๐๐ฒ๐ฟ ๐ณ๐ฎ๐ฐ๐ถ๐น๐ถ๐๐ฎ๐๐ถ๐ป๐ด ๐ฃ๐ผ๐ฟ๐๐๐ด๐ฎ๐นโ๐ ๐ฎ๐ฑ๐ฑ๐ถ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ฒ๐ฎ๐ฟ๐น๐ ๐ฟ๐ฒ๐ฝ๐ฎ๐๐บ๐ฒ๐ป๐๐ ๐ผ๐ณ ๐๐จ ๐น๐ผ๐ฎ๐ป๐ ๐๐ป๐ฑ๐ฒ๐ฟ ๐๐ต๐ฒ ๐๐๐ฟ๐ผ๐ฝ๐ฒ๐ฎ๐ป ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฆ๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ ๐ฒ๐ฐ๐ต๐ฎ๐ป๐ถ๐๐บ (๐๐๐ฆ๐ ): ๐๐ฝ ๐๐ผ โฌ๐ฎ.๐ฐ ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฏ๐ ๐๐ต๐ฒ ๐ฒ๐ป๐ฑ ๐ผ๐ณ ๐ฎ๐ฌ๐ฎ๐ฒ ๐ฎ๐ป๐ฑ ๐๐ฝ ๐๐ผ ๐ฎ ๐ณ๐๐ฟ๐๐ต๐ฒ๐ฟ โฌ๐ฎ.๐ฒ ๐ฏ๐ถ๐น๐น๐ถ๐ผ๐ป ๐ฏ๐ ๐๐ต๐ฒ ๐ฒ๐ป๐ฑ ๐ผ๐ณ ๐ฎ๐ฌ๐ฎ๐ณ.
Normally, early repayment of EFSM loans requires Portugal to repay a proportional amount of its EFSF loans. Todayโs approval authorizes the EFSF CEO to grant waivers from this obligation, allowing Portugalโs EFSF repayments to remain on their existing schedule.
These additional EFSM repayments could generate budgetary savings, smooth Portugalโs debt structure and send a positive signal to financial markets.
๐Read the press release: esm.europa.eu/press-releasesโฆ
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ESM raised โฌ1 billion today with a long 3-year bond transaction.
This is the ESMโs first-ever digitally native bond and will be settled through the Eurosystemโs Pontes platform.
Press release: esm.europa.eu/press-releasesโฆ
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๐๐ฆ๐ ๐ถ๐ ๐๐ต๐ฒ ๐ณ๐ถ๐ฟ๐๐ ๐๐๐ฟ๐ผ๐ฝ๐ฒ๐ฎ๐ป ๐๐๐ฝ๐ฟ๐ฎ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ถ๐๐๐๐ฒ๐ฟ ๐๐ผ ๐๐ฒ๐๐๐น๐ฒ ๐๐๐ง-๐ฏ๐ฎ๐๐ฒ๐ฑ ๐ฏ๐ผ๐ป๐ฑ ๐ถ๐๐๐๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ป ๐๐๐ฟ๐ผ๐๐๐๐๐ฒ๐บโ๐ ๐ฃ๐ผ๐ป๐๐ฒ๐ ๐ฝ๐น๐ฎ๐๐ณ๐ผ๐ฟ๐บ
Together with Deutsche Bundesbank and Clearstream, the ESM launched the first digital issuance by a European supranational issuer to be settled through the Eurosystemโs Pontes platform.
The transaction marks a milestone in the transition of Europe's wholesale digital financial infrastructure from pilot projects to live deployment.
The issuance combines digital technology with the existing legal framework, infrastructure, and operating standards of European capital markets, highlighting the potential of digital innovation within Europe's financial ecosystem.
ESM Managing Director @pierregramegna highlighted: โThis benchmark bond issuance by the ESM marks an important milestone for Europeโs digital financial markets. The ESMโs mandate is to safeguard the financial stability of the euro area. The ESM supports innovation where it strengthens trust, efficiency, and resilience. Pontes embodies Europeโs capacity to develop trusted and innovative payment infrastructure, positioning Europe at the forefront of digital finance. This will strengthen the international role of the euro and deepen Europeโs capital markets.โ
๐ Read the full press release: esm.europa.eu/press-releasesโฆ
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ESM retweeted
@ESM_Press is the first European supranational issuer using the Pontes platform to settle a digital bond. Congratulations to those who have made this happen. And a special thank you to the @ecb, in particular to Piero Cipollone, for the leadership in bringing Pontes to fruition.
๐๐ฆ๐ ๐ถ๐ ๐๐ต๐ฒ ๐ณ๐ถ๐ฟ๐๐ ๐๐๐ฟ๐ผ๐ฝ๐ฒ๐ฎ๐ป ๐๐๐ฝ๐ฟ๐ฎ๐ป๐ฎ๐๐ถ๐ผ๐ป๐ฎ๐น ๐ถ๐๐๐๐ฒ๐ฟ ๐๐ผ ๐๐ฒ๐๐๐น๐ฒ ๐๐๐ง-๐ฏ๐ฎ๐๐ฒ๐ฑ ๐ฏ๐ผ๐ป๐ฑ ๐ถ๐๐๐๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ป ๐๐๐ฟ๐ผ๐๐๐๐๐ฒ๐บโ๐ ๐ฃ๐ผ๐ป๐๐ฒ๐ ๐ฝ๐น๐ฎ๐๐ณ๐ผ๐ฟ๐บ
Together with Deutsche Bundesbank and Clearstream, the ESM launched the first digital issuance by a European supranational issuer to be settled through the Eurosystemโs Pontes platform.
The transaction marks a milestone in the transition of Europe's wholesale digital financial infrastructure from pilot projects to live deployment.
The issuance combines digital technology with the existing legal framework, infrastructure, and operating standards of European capital markets, highlighting the potential of digital innovation within Europe's financial ecosystem.
ESM Managing Director Pierre Gramegna highlighted: โThis benchmark bond issuance by the ESM marks an important milestone for Europeโs digital financial markets. The ESMโs mandate is to safeguard the financial stability of the euro area. The ESM supports innovation where it strengthens trust, efficiency, and resilience. Pontes embodies Europeโs capacity to develop trusted and innovative payment infrastructure, positioning Europe at the forefront of digital finance. This will strengthen the international role of the euro and deepen Europeโs capital markets.โ
๐ Read the full press release: esm.europa.eu/press-releasesโฆ
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ESM retweeted
Excellent panel on the role of financial safety nets in a world with increased vulnerabilities and risks . Many thanks to panelists and moderator . Main takeaways below . PG
@SabineMauderer @JustinMuzinich @edglez22
@ESM_Press
Speaking on the panel โBuilding the next global financial safety netโ at the 2026 @Bgdialogue, ESM Managing Director @pierregramegna underlined the need to strengthen financial resilience as new technologies and more price-sensitive participants reshape the financial system.
He highlighted the opportunities offered by non-bank financial institutions, digital finance and artificial intelligence, while warning that emerging vulnerabilities can amplify liquidity pressures during periods of stress. He stressed that Europe must match its regulatory efforts with the ambition to develop and deploy new technologies.
He also emphasised that governments cannot absorb every economic shock or compensate for every financial loss. Public support should be targeted, tailored and temporary, protecting those most in need without weakening incentives to adjust. Therefore rebuilding fiscal buffers is key for countries to respond to future crises.
Turning to international cooperation, he highlighted the need to strengthen the cooperation between the IMF and regional financing arrangements further, as an important part of the global financial safety net.
Finally, he reaffirmed the ESMโs role in helping euro area countries prevent and overcome crises.
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On the margins of the @Bgdialogue, ESM Managing Director @pierregramegna met with Stefan Wintels, CEO of @KfW.
They discussed the importance of investing in technology and innovation to boost productivity and enhance Europe's competitiveness.
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Speaking on the panel โBuilding the next global financial safety netโ at the 2026 @Bgdialogue, ESM Managing Director @pierregramegna underlined the need to strengthen financial resilience as new technologies and more price-sensitive participants reshape the financial system.
He highlighted the opportunities offered by non-bank financial institutions, digital finance and artificial intelligence, while warning that emerging vulnerabilities can amplify liquidity pressures during periods of stress. He stressed that Europe must match its regulatory efforts with the ambition to develop and deploy new technologies.
He also emphasised that governments cannot absorb every economic shock or compensate for every financial loss. Public support should be targeted, tailored and temporary, protecting those most in need without weakening incentives to adjust. Therefore rebuilding fiscal buffers is key for countries to respond to future crises.
Turning to international cooperation, he highlighted the need to strengthen the cooperation between the IMF and regional financing arrangements further, as an important part of the global financial safety net.
Finally, he reaffirmed the ESMโs role in helping euro area countries prevent and overcome crises.
#ESMeuro #BGD2026
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ESM retweeted
Glad to meet Lars-Hendrik Rรถller , founder of the Berlin Global Dialog and to stand on a panel dedicated to financial stability . Given the quality of speakers and the excellent organization , I look forward to coming back next year . PG @ESM_Press @Bgdialogue
At the 2026 Berlin Global Dialogue, ESM Managing Director @pierregramegna was pleased to meet Lars-Hendrik Rรถller, Founder and Chair of this annual international summit hosted at ESMT Berlin and aimed at uniting global business and political leaders.
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At the 2026 Berlin Global Dialogue, ESM Managing Director @pierregramegna was pleased to meet Lars-Hendrik Rรถller, Founder and Chair of this annual international summit hosted at ESMT Berlin and aimed at uniting global business and political leaders.
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๐๐ถ๐ด๐ถ๐๐ฎ๐น ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ฒ ๐ผ๐ณ๐ณ๐ฒ๐ฟ๐ ๐ฎ๐ป ๐ผ๐ฝ๐ฝ๐ผ๐ฟ๐๐๐ป๐ถ๐๐ ๐๐ผ ๐ฏ๐ฟ๐ถ๐ป๐ด ๐บ๐ฎ๐ฟ๐ธ๐ฒ๐๐ ๐ฐ๐น๐ผ๐๐ฒ๐ฟ ๐๐ผ๐ด๐ฒ๐๐ต๐ฒ๐ฟ.
Speaking remotely at the China-Europe Finance and Investment Forum 2026 in Beijing yesterday, held as part of the Financial Street Forum 2026, ESM Managing Director @pierregramegna highlighted the potential of digitalisation to make the issuance, trading and settlement of financial instruments more efficient.
As Europe advances projects including the digital euro and new digital market infrastructures, interoperability will be essential. Continued international dialogue can help ensure that innovation supports transparent, connected and resilient financial markets. There is considerable scope for Europe and China โ and for institutions such as ICBC and the ESM โ to contribute to that process.
๐Link to the full speech: ow.ly/wpVh50ZZFnv
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ESM retweeted
Good exchange of views with Daniela Stoffel , Swiss State Secretary for International Finance on the risks of higher inflation stemming from persistently higher energy prices . Good to be in Berlin during @Bgdialogue . PG
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๐ช๐ต๐ถ๐น๐ฒ ๐ด๐ฒ๐ผ๐ฝ๐ผ๐น๐ถ๐๐ถ๐ฐ๐ ๐ถ๐ ๐ฐ๐น๐ฒ๐ฎ๐ฟ๐น๐ ๐๐ต๐ฒ ๐ป๐๐บ๐ฏ๐ฒ๐ฟ ๐ผ๐ป๐ฒ ๐ณ๐ฎ๐ฐ๐๐ผ๐ฟ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐๐ต๐ฒ ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐ฒ๐ฐ๐ผ๐ป๐ผ๐บ๐ ๐๐ผ๐ฑ๐ฎ๐, ๐๐ต๐ฒ๐ฟ๐ฒ'๐ ๐ป๐ผ ๐ฟ๐ฒ๐ด๐ถ๐ผ๐ป ๐ถ๐ป ๐๐ต๐ฒ ๐๐ผ๐ฟ๐น๐ฑ ๐๐ต๐ฎ๐ ๐ถ๐ ๐ฏ๐ฒ๐๐๐ฒ๐ฟ ๐ฝ๐ฟ๐ฒ๐ฝ๐ฎ๐ฟ๐ฒ๐ฑ ๐ฎ๐ป๐ฑ ๐ต๐ฎ๐ ๐๐ต๐ฒ ๐ถ๐ป๐๐๐ฟ๐๐บ๐ฒ๐ป๐๐ ๐๐ผ ๐๐ฒ๐ฎ๐๐ต๐ฒ๐ฟ ๐ฎ ๐ณ๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐ฐ๐ฟ๐ถ๐๐ถ๐, ๐๐ต๐ฎ๐ป ๐๐๐ฟ๐ผ๐ฝ๐ฒ.
In his speech opening the 14th Annual ESM Shareholdersโ Day, ESM Managing Director @pierregramegna reflected on the recent @IMFNews-@WorldBankGroup Annual Meetings in Bangkok, and how geopolitical developments are impacting economies all over the world.
The ESMโs capacity to act as the lender of last resort for euro area countries remains essential: it has the highest lending capacity and the highest capital among comparable institutions around the world.
Crisis prevention is becoming an increasingly important aspect of the ESMโs activities. This means taking a close look at risks. The ESMโs new publication, the ๐๐๐ฟ๐ผ ๐๐ฟ๐ฒ๐ฎ ๐ฆ๐๐ฎ๐ฏ๐ถ๐น๐ถ๐๐ ๐ช๐ฎ๐๐ฐ๐ต (read it here: ow.ly/pIht50ZZkvN), examines these risks and the wider forces that could create vulnerabilities across the euro area.
We cannot predict every crisis. ๐๐๐ ๐๐ผ๐ด๐ฒ๐๐ต๐ฒ๐ฟ, ๐๐ต๐ฒ ๐๐ฆ๐ ๐ฎ๐ป๐ฑ ๐ถ๐๐ ๐บ๐ฒ๐บ๐ฏ๐ฒ๐ฟ๐ ๐ฐ๐ฎ๐ป ๐ฝ๐ฟ๐ฒ๐ฝ๐ฎ๐ฟ๐ฒ ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ป๐ฒ๐
๐ฝ๐ฒ๐ฐ๐๐ฒ๐ฑ.
๐ท: Frรฉdรฉric Sierakowski
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ESM retweeted
Excellent exchange of views with @NathalieFrancke , executive director at the @WorldBankGroup about the challenges of addressing issues of development at a time of heightened geopolitical fragmentation and strained budgets . PG
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