Tag: European Stability Mechanism


On the selling of sovereigns held by the ESCB to the ESM

This paper presents an in-depth review of the proposal by Micossi (2020) and Avgouleas and Micossi (2021) to transfer a substantial share of the sovereigns acquired by the European System of Central Banks (ESCB), both during and before the pandemic, to the European Stability Mechanism (ESM). This is necessary to avoid the potentially disruptive impact […]