European Stability Mechanism

As the Europe is in needing of liquid assets, many people went all-in with the ESM, unluckily the already two existing credit lines were not exactly what the states needed. The Eurogroup then decided to develop a new credit line exceptionally for the pandemic, last night it got definetly approved. This new credit line will be able to make a ten-year loan up to 2% of the state's GDP, with an interest fixed rate at 0,1%. This new credit line will be available from june 2020 until the end of 2022.