European Stability Mechanism

European Stability Mechanism

ESM headquarters in Luxembourg City
ESM member states Other EU member states
Formation	27 September 2012 (2012-09-27)
Type	IGO
Legal status	Treaty Establishing the European Stability Mechanism
Headquarters	Luxembourg City, Luxembourg 49°38′07″N 6°10′06″E / 49.63529°N 6.1684°E / 49.63529; 6.1684
Members	21 (all Member States of the eurozone)
Managing Director	Pierre Gramegna
President of the Board of Governors	Kyriakos Pierrakakis
Organs	Board of Governors Board of Directors
Staff	230 (2024)
Website	esm.europa.eu

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Member states (27) Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Candidate countries Albania Bosnia and Herzegovina Georgia Moldova Montenegro North Macedonia Serbia Turkey Ukraine Applicant countries Kosovo States not on the agenda Armenia Azerbaijan Belarus Iceland Kazakhstan Norway Russia Switzerland United Kingdom Microstates and the European Union Andorra Liechtenstein Monaco San Marino Vatican City Special territories EU 3 (EU founding states) Enlargement of the European Union Withdrawal from the European Union
Treaties and Declarations Schuman Declaration (1950) Treaty of Paris (1951) Europe Declaration (1951) Spaak Report (1956) Treaty of Rome (1957) Euratom Treaty (1957) Merger Treaty (1965) Solemn Declaration (1983) Single European Act (1986) Maastricht Treaty (1992) Treaty of Amsterdam (1997) Treaty of Nice (2001) Berlin Declaration (2007) Treaty of Lisbon (2007) Article 7 Article 50 Opt-outs Treaties of accession 1972, 1979, 1985, 1994, 2003, 2005, 2011 Treaties of withdrawal 1984, 2020 Other treaties Schengen Agreement (1985) European Economic Area Agreement (1992) Abandoned treaties and agreements European Constitution (2004) UK membership renegotiation (2015–2016)
Executive institutions European Council President: Costa (PES) Parties List of meetings European Commission Von der Leyen Commission President: Von der Leyen (EPP) Vice Presidents College of Commissioners Civil Service Secretary-General: Juhansone
Legislative institutions Legislative procedure Council of the EU Presidency Ireland (July–December 2026) Configurations GAC FAC ECOFIN Eurogroup AGRIFISH EPSCO COMPET TTE ENVI JHA EYC Voting Secretariat Secretary-General: Thérèse Blanchet Directorates-general Council preparatory bodies COREPER Council Working Parties European Parliament (Members) President: Metsola Largest groups EPP (Manfred Weber) S&D (Iratxe García) Member of the European Parliament 10th session (2024–2029) Bureau Vice Presidents Quaestor Conference National parliaments
Judicial institutions Court of Justice of the EU European Court of Justice Members Advocates General Rulings General Court
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Other bodies European Investment Bank Group Investment Bank Investment Fund EIB Institute European Stability Mechanism European Stability Mechanism European University Institute European University Institute Unified Patent Court Unified Patent Court Agencies, decentralised independent bodies and joint undertakings Decentralised agencies of the EU Single market agencies CFSP agencies AFSC agencies ESFS European Supervisory Authorities SRM bodies Executive agencies of the EU Euratom agencies Decentralised independent bodies of the EU European Institute of Innovation and Technology European Public Prosecutor's Office Corporate bodies of the EU European Data Protection Board Authority for European Political Parties and European Political Foundations Joint undertakings of the EU of the Euratom Other independent bodies European Data Protection Supervisor European Ombudsman Advisory bodies European Committee of the Regions European Economic and Social Committee Political and Security Committee European Union Military Committee EU/ESA Space Council Inter-institutional bodies Publications Office of the European Union European External Action Service European Personnel Selection Office Anti-Fraud Office European Administrative School
Euratom Euratom members Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Associated states Switzerland United Kingdom Nuclear power in the European Union Euratom since 1 January 2021
Economic and Monetary Union Eurozone members Austria Belgium Bulgaria Croatia Cyprus Estonia Finland France Germany Greece Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain Eurogroup President Kyriakos Pierrakakis Other currencies in use Czech koruna Danish krone (Opt-out of the euro) Hungarian forint Polish złoty Romanian leu Swedish krona ERM II Enlargement of the eurozone Non Euro countries relationship to Euro Czechia Denmark Hungary Poland Sweden Romania Eurozone since 2026
Schengen Area Austria Belgium Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany Greece Hungary Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Switzerland Non-Schengen area EU member states Cyprus Ireland (Opt-out) EES ETIAS Frontex Prüm Convention Schengen Information System Visa Information System Visa policy of the Schengen Area Schengen Area from January 2025
European Economic Area EEA members Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Non-EU members Iceland Liechtenstein Norway Topics EEA Joint Committee EEA National Identity cards Microstates and the European Union European Economic Area
Elections Elections to the European Parliament European parties European foundations Political groups of the European Parliament Spitzenkandidat Constituencies Apportionment Referendums related to the EU European elections 1979 1984 1989 1994 1999 2004 2009 2014 2019 2024 (latest election) Elections in EU member states Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden
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Defunct bodies European Communities (1958–1993) European Coal and Steel Community European Economic Community European Community Western European Union Convention on the Future of Europe
European Union portal Other countries

The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion. It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).