Europejski Mechanizm Stabilizacyjny – geneza i przesłanki pomocy finansowej dla krajów strefy euro
European Stability Mechanism − economic reasons of financial support

Summary/Abstract: The European Stability Mechanism (ESM) is a permanent rescue funding programme to succeed the temporary European Financial Stability Facility and European Financial Stabilization Mechanism. The financial support from monetary union was necessary after several countries had problems with paying their debt. In Greece and Portugal it was caused by fiscal expansion, lack of structural reforms and very low competitiveness. In Ireland the source of fiscal problems were boom in construction industry, banking crisis and government’s involvement in financial support.

• Details
• Contents