We did it! The world's first €1bn digital bond issuance settled with the ECB's new Pontes, using central bank money and DLT. We promised speed and size. We delivered both. The journey took just eight months, from nothing to a successful €1bn transaction. lnkd.in/p/dHidf5wK

𝗚𝗿𝗲𝗲𝗰𝗲 𝗵𝗮𝘀 𝗿𝗲𝗽𝗮𝗶𝗱 €𝟮.𝟱 𝗯𝗶𝗹𝗹𝗶𝗼𝗻 𝘁𝗼 𝘁𝗵𝗲 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗦𝘁𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗙𝗮𝗰𝗶𝗹𝗶𝘁𝘆 (𝗘𝗙𝗦𝗙). Between 2010 and 2015, the EFSF and ESM provided loans to the Greek government to finance the Hellenic Financial Stability Fund (HFSF). The HFSF used these funds to recapitalise systemic Greek banks during the crisis. It later recovered funds by selling most of its holdings in these banks. Following the HFSF’s merger with the Hellenic Corporation of Assets and Participations (HCAP), these proceeds are now held by HCAP. The repayment results from the EFSF exercising its contractual repayment rights over €2.5 billion of the proceeds. 🔗 Read the press release: ow.ly/yUmg50ZTOm3 #ESMeuro

𝗛𝗼𝘄 𝗶𝘀 𝗱𝗶𝗴𝗶𝘁𝗮𝗹 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗰𝗵𝗮𝗻𝗴𝗶𝗻𝗴 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀? This is what we asked Imène Rahmouni-Rousseau, @ecb Director General Market Operations, at the 8th Annual Capital Markets Seminar. 🎥 Listen as she discusses how tokenisation is helping shape the financial markets of the future, the ECB’s actions in this evolving landscape, and why investors need to be ready to innovate, learn and pull in the same direction. Her message is clear: “This is only the start of the journey. Let’s build the road together.” #ESMeuro #CMS2026

𝗪𝗵𝗮𝘁 𝗴𝗶𝘃𝗲𝘀 𝘆𝗼𝘂 𝗰𝗼𝗻𝗳𝗶𝗱𝗲𝗻𝗰𝗲 𝗮𝗯𝗼𝘂𝘁 𝗘𝘂𝗿𝗼𝗽𝗲’𝘀 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝗲𝗰𝘁𝗼𝗿 𝗮𝗻𝗱 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁𝘀? At this year’s Capital Markets Seminar, Stephan Leithner, Chief Executive Officer of Deutsche Börse Group, shares his perspective on the strengths shaping the future of Europe’s capital markets. For Leithner, confidence comes from two key strengths: Europe’s growing determination to strengthen its autonomy and the innovation capacity of its financial sector. 🎥 Hear his key insights on the future of Europe’s financial ecosystem. #CMS2026 #ESMeuro

“𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝗺𝗮𝗶𝗻 𝘁𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿’𝘀 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗦𝗲𝗺𝗶𝗻𝗮𝗿?” That’s what we asked @BNPParibas Chairman, Jean Lemierre, at the tail end of the 8th Annual Capital Markets Seminar. In Jean Lemierre's view, Europe has the savings, the skills and the projects. From AI and digitalisation to the energy transition and defence, the challenge is not a lack of resources. It's connecting Europe's savings with the investments that will drive future growth. That is why connecting representatives from institutions, investors, and policymakers at an event like the Annual Capital Markets Seminar, is so important. In the words of Lemierre: “𝘞𝘦 𝘤𝘢𝘯 𝘵𝘳𝘺 𝘵𝘰 𝘥𝘰 𝘪𝘵 𝘰𝘯𝘦 𝘣𝘺 𝘰𝘯𝘦, 𝘰𝘯 𝘢 𝘯𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘣𝘢𝘴𝘪𝘴, 𝘣𝘶𝘵 𝘪𝘵’𝘴 𝘮𝘶𝘤𝘩 𝘣𝘦𝘵𝘵𝘦𝘳 𝘵𝘰 𝘥𝘰 𝘪𝘵 𝘵𝘰𝘨𝘦𝘵𝘩𝘦𝘳. 𝘐𝘵 𝘸𝘪𝘭𝘭 𝘩𝘢𝘷𝘦 𝘢 𝘮𝘶𝘤𝘩 𝘣𝘪𝘨𝘨𝘦𝘳 𝘪𝘮𝘱𝘢𝘤𝘵 𝘰𝘯 𝘶𝘴, 𝘰𝘯 𝘌𝘶𝘳𝘰𝘱𝘦. 𝘈𝘯𝘥 𝘵𝘩𝘪𝘴 𝘪𝘴 𝘦𝘹𝘢𝘤𝘵𝘭𝘺 𝘸𝘩𝘢𝘵 𝘸𝘦 𝘯𝘦𝘦𝘥 𝘵𝘰 𝘥𝘰.” #ESMeuro #CMS2026

ESM Chief Financial Officer @kaanev and Jean Lemierre, Chairman of BNP Paribas, came together for a fireside chat at the 𝟴𝘁𝗵 𝗔𝗻𝗻𝘂𝗮𝗹 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗦𝗲𝗺𝗶𝗻𝗮𝗿 in Luxembourg. Their conversation explored Europe’s strengths and the challenges ahead: boosting competitiveness and resilience, further developing Europe’s financing architecture, including through common European safe assets, and deepening the integration of European bond markets. They also discussed what these developments could mean for the international role of the euro and Europe’s place in the global financial system. #ESMeuro #CMS2026

Happy to join the #CMS2026 and discuss with EIB's Cyril Rousseau, ESM's @kaanev & DB's Panos Stergiou. NGEU may be winding down, but EU's investment needs aren't. The challenge is getting the financing mix right - EU, national resources & mobilising private capital. More here:

Europe has a superpower 🦸‍♀️ That's how @NadiaCalvino (EIB) opened the 8th EU-EIB-ESM Capital Market Seminar. My @ESM_Press news on the CFO panel: record €2bn profit, capital up to €88bn, Spain repaying all loans by end of next next year. Day 2 next!

Europe can finance its future by continuing to offer what investors value most: safe, high-quality assets. My reflections from #CMS2026.

Overlapping shocks are posing risks to medium-term price stability in the euro area, Executive Board member @Isabel_Schnabel tells @ESM_Press. The ECB has acted in a timely manner and will continue to calibrate policy with a focus on underlying inflation ecb.europa.eu/press/key/date…

At the margins of the 8th Annual Capital Markets Seminar in Luxembourg, ESM Managing Director @pierregramegna and Chief Financial Officer @kaanev met with @NadiaCalvino, @EIB President; @riso_stephanie, @EU_Commission Director-General for Budget; and @Isabel_Schnabel, Member of the @ECB’s Executive Board. Bringing together senior policymakers, thought leaders and market participants, #CMS2026 provides an important forum to exchange views on the opportunities and challenges shaping Europe’s capital markets. #ESMeuro

🇧🇬🇪🇺 How do you see your future in Europe? This is one of the questions I asked students last week during our #ESMYouthTalk in Bulgaria. There is something unique about being surrounded by young people full of curiosity. Their energy is simply irreplaceable and contagious!

𝗡𝗲𝘄 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀, 𝗻𝗲𝘄 𝗳𝘂𝘁𝘂𝗿𝗲: 𝗕𝘂𝗹𝗴𝗮𝗿𝗶𝗮 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗘𝘂𝗿𝗼 🇧🇬 🇪🇺 ESM Chief Operating Officer Yana Djoneva and ESM Chief Financial Officer @kaanev recently met Finance and Economics students at the University of National and World Economy in Sofia, Bulgaria, for the #ESMYouthTalk. The exchange came at a historic moment for Bulgaria, following its accession to the euro area and the ESM. Yana and Kalin discussed Europe’s future, Bulgaria’s place within it, and the opportunities and challenges ahead. But most importantly, they listened. Students shared their questions, perspectives and ambitions for Bulgaria and Europe, making for a lively and inspiring conversation about the future they will help shape. 🎥 Watch the highlights from the #ESMYouthTalk in Sofia. Thank you to the University of National and World Economy, our hosts and organisers, and especially to all the students for their active participation, thoughtful questions and fresh perspectives! #ESMeuro

ESM CFO Kalin Anev Janse introduces Q3 Investor Newsletter: ow.ly/GI7850ZSw7T

🇧🇬🇪🇺 Europe and Bulgaria, stronger together! Over 2 days, we celebrated Bulgaria’s entrance to the Euro and @ESM_Press A #ESMYouthTalk, meetings with the Prime Minister, Finance Minister, Central Bank Governor and a flagship conference marked the occasion. A historic moment!

On 24 September, ESM Chief Operating Officer Yana Djoneva and ESM Chief Financial Officer Kalin Anev Janse will be at the University of National and World Economy (UNWE) in Sofia for an #ESMYouthTalk to explore this question with students. Yana and Kalin will discuss Europe’s future, Bulgaria’s place within it, and the opportunities and challenges ahead. They will also introduce the ESM, its role in safeguarding financial stability in the euro area and the work behind it. We look forward to hearing students’ views and questions! #ESMeuro

📅 𝗪𝗵𝗮𝘁 𝗶𝘀 𝘆𝗼𝘂𝗿 𝘃𝗶𝘀𝗶𝗼𝗻 𝗳𝗼𝗿 𝗕𝘂𝗹𝗴𝗮𝗿𝗶𝗮 𝗶𝗻 𝘁𝗵𝗲 𝗲𝘂𝗿𝗼? Next week, ESM Chief Financial Officer Kalin Anev Janse and Chief Operating Officer Yana Djoneva will return to their home country to meet students at the University of World and National Economy (UNWE) in Sofia during the next #ESMYouthTalk. The conversation comes at a particularly meaningful moment, following Bulgaria's recent accession to the euro area and the ESM. Together with the students, Kalin and Yana will discuss Europe's future, Bulgaria's place within it, and the opportunities and challenges that lie ahead. We are looking forward to an engaging discussion and inspiring exchanges in Sofia.

𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗶𝘁 𝘁𝗮𝗸𝗲 𝘁𝗼 𝗺𝗮𝗻𝗮𝗴𝗲 𝗮 𝗽𝘂𝗯𝗹𝗶𝗰 𝗶𝘀𝘀𝘂𝗲𝗿’𝘀 𝗯𝗮𝗹𝗮𝗻𝗰𝗲 𝘀𝗵𝗲𝗲𝘁 𝗶𝗻 𝗮𝗻 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴𝗹𝘆 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻 𝘄𝗼𝗿𝗹𝗱? In an interview with @SecretCFO’s Tim Cooper for Boardroom Brief, ESM Chief Financial Officer @kaanev reflects on the importance of trusted investor relationships, the lessons of “16 wild years” in Luxembourg, and how Europe’s financial architecture has become more resilient since the global financial crisis. He also discusses how the ESM approaches funding and liquidity management in volatile markets, and how AI is beginning to support decision-making in capital markets. A timely conversation on the role of public issuers, long-term trust, and the evolving tools of finance. Read the interview: ow.ly/jwwV50Zq1o7 #ESMeuro

𝗧𝗼𝗱𝗮𝘆, 𝘁𝗵𝗲 𝗘𝗦𝗠 𝗽𝘂𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝘁𝗵𝗲 𝗳𝗼𝘂𝗿𝘁𝗵 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 𝗼𝗳 𝗶𝘁𝘀 𝗘𝗦𝗚 𝗦𝘂𝗺𝗺𝗮𝗿𝘆 𝗥𝗲𝗽𝗼𝗿𝘁 𝗼𝗻 𝗲𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁𝗮𝗹, 𝘀𝗼𝗰𝗶𝗮𝗹, 𝗮𝗻𝗱 𝗴𝗼𝘃𝗲𝗿𝗻𝗮𝗻𝗰𝗲 (𝗘𝗦𝗚) 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝗶𝗲𝘀 𝗼𝘃𝗲𝗿 𝘁𝗵𝗲 𝗽𝗮𝘀𝘁 𝘆𝗲𝗮𝗿. The report provides an overview of the ESG-related activities of the ESM and EFSF as an institution, investor, and issuer, while complementing the annual Carbon Footprint Report. It highlights the steady integration of ESG principles into investment management, risk assessment, funding activities, and internal operations. 𝗞𝗲𝘆 𝗵𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀 𝗼𝗳 𝘁𝗵𝗲 𝟮𝟬𝟮𝟱 𝗲𝗱𝗶𝘁𝗶𝗼𝗻 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: - Continued strong allocation to ESG-labelled bonds, with €7.5 billion invested at year-end. Of this total, €6.8 billion adhered to the principles and guidelines established by ICMA. - Among ESG-labelled bonds, the largest share of proceeds was directed towards projects such as renewable energy, affordable housing, and clean transportation. - The ESM further strengthened its climate risk framework by refining its methodologies for assessing climate-related risks in investment portfolios. - The report also presents new research by the Chief Economist department on the macroeconomic effects of extreme weather events. 🔗 Read the full report: esm.europa.eu/system/files/d…

𝗜𝗻 𝗮 𝗽𝗹𝗮𝗰𝗲 𝘄𝗵𝗲𝗿𝗲 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗵𝗶𝘀𝘁𝗼𝗿𝘆 𝘄𝗮𝘀 𝘀𝗵𝗮𝗽𝗲𝗱, 𝘄𝗲 𝗰𝗮𝗺𝗲 𝘁𝗼𝗴𝗲𝘁𝗵𝗲𝗿 𝘁𝗼 𝗿𝗲𝗳𝗹𝗲𝗰𝘁 𝗼𝗻 𝘁𝗵𝗲 𝘃𝗮𝗹𝘂𝗲𝘀 𝘁𝗵𝗮𝘁 𝗴𝘂𝗶𝗱𝗲 𝗼𝘂𝗿 𝘄𝗼𝗿𝗸. This week, colleagues gathered for a summer reception aboard the Princess Marie-Astrid, a setting of particular historical significance. In 1985, docked in Schengen, Luxembourg, this ship hosted the signing of the Schengen Agreement, marking the beginning of the free movement of people across Europe. Inspired by this legacy, our gathering was a reminder of the values that define the ESM: acting with purpose to strengthen Europe, teaming up in trust and collaboration to achieve excellence, and upholding integrity in everything we do. Being in a place connected to European integration was a powerful reminder that progress is built on shared principles and collective effort. At the ESM, these values not only connect us to Europe’s past, but also actively guide how we contribute to its future. #ESMeuro