ESM, European Stability Mechanism
Channel: Alberto Veronese
Date: 2012-03-14

The new treaty to create a European Stability Mechanism (ESM) was signed on 2 February 2012 by the eurozone countries' ambassadors in Brussels.

Herman Van Rompuy, President of the European Council, welcomed the signing of the treaty, saying that this permanent crisis mechanism would contribute to raising confidence and ensuring solidarity and financial stability in the euro area.

The ESM will be a Luxembourg-based international financial institution, which will support euro area countries where indispensable to safeguard financial stability. It is scheduled to become operational in July 2012. 

The treaty was originally signed in July 2011 but has now been modified to make the ESM more effective.

Source:
http://consilium.europa.eu/homepage/showfocus?lang=en&focusID=79757

Thanks for YouTube Sharing:
user/2012sprint
Uploaded on Dec 17, 2011

Google The Web:
ECB
IMF
Fiscal Compact
Lisbon Treaty