"Bridging Loans" from the ESM
Until the EU Recovery Fund is ratified, several Southern European countries are prepared to tap financing from the ESM to cover intermittent demands. The Italian Government are prepared to borrow 37 billion Euro from the ESM, whereas here in Greece there are rumours that the Hellenic Government will demand 3.7 billion Euro from the ESM.
What do you guys make of the ESM? Will it help Southern European countries until the European Recovery Fund is activated in 2021?
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