Eurozone finance ministers meeting in Luxembourg on Monday (8 October) will hold the inaugural session of the permanent bailout fund, the European Stability Mechanism (ESM), which is to have a firepower of €500bn by next year as countries gradually pay into it..
The fund should have already been operational on 1 July, but constitutional challenges in Germany delayed the launch by three months.
For now, its headquarters remain within the European Financial Stability Facility (EFSF...
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