@article{2025:werderitsch:die_unvol,
title = {Die (unvollendete) Reform des Europäischen Stabili- tätsmechanismus (ESM)},
year = {2025},
note = {Right at the beginning of the economic crisis in Europe, there were
calls for a mechanism that would contribute to monetary stability and
thus represent an effective instrument to address the sovereign debt
crisis. For this purpose, the euro countries agreed to establish a
permanent rescue mechanism, the European Stability Mechanism (ESM).
The main objective of the “rescue umbrella” was to prevent the
collapse of the European Economic and Monetary Union and to preserve
the euro as the common currency of the EU “by all means”. A decade
after its inception, the ESM stands at a critical juncture, with a
long-prepared reform – introducing significant advancements –
awaiting ratification. This article seeks to analyse the future scope
of this (still incomplete) ESM reform. To this end, it first provides
an overview of the current status quo of the ESM before delving into
the key aspects of the proposed reform.},
journal = {Zeitschrift für ausländisches öffentliches Recht und Völkerrecht / Heidelberg Journal of International Law},
pages = {891--920},
author = {Werderitsch, Sarah},
volume = {85},
number = {3}
}