Scholz and Co. decide to reform the euro rescue umbrella - now everything should go much faster than planned

The reform of the euro rescue umbrella is through.

Finance Minister Olaf Scholz made this good news public.

The schedule has also been rethought - for good reason.

• Europe's finance ministers have agreed on the reform of the ESM euro rescue umbrella.

• Olaf Scholz praises the result and emphasizes the special importance.

• The corona crisis brings further disaster with it.

Brussels - Getting several dozen opinions and demands under one roof can take a lot of sweat.

Especially in the crisis.

The news that

announced

in Brussels is all the more gratifying

.

The SPD * politician has

finally reached an

agreement

with his

on the

.

With this, the confederation wants to

arm

itself

better against future financial and banking crises

amid the

.

According to Scholz, the ESM reform sounds technical, but it is of great importance: “The ESM reform strengthens the

and the entire

.

Because we are making the euro zone even more robust against

. "

Euro rescue fund ESM - reform is ready: start date for backstop brought forward by two years

The reform is intended to strengthen the ESM, which was founded in 2012,

facilitate

precautionary

.

At the same time, the institution in Luxembourg is to take on the task of

.

This common

will now start two years earlier than originally thought, said Scholz.

The start date is now 2022 instead of 2024.

This will make “Europe's banks more resilient and support the

” added the minister.

“Because a stable

banking sector is an important prerequisite for

.

At the same time, we are further reducing the risks in the bank balance sheets.

All of this is

for our companies and for Europe's citizens. "

+

Sees the euro and the European banking sector strengthened: Finance Minister Olaf Scholz praises the reform of the euro rescue fund ESM.

© Kay Nietfeld / dpa

Euro rescue umbrella ESM - reform stands: Scholz relies on "stability culture"

Scholz had already said before the meeting that it was important for Germany to continue a

” and to further

.

In addition,

available own funds

should also be used in the event of

.

Because of detailed questions,

had

long blocked the

which was actually

for

ago.

In a hearing in the Italian parliament

on Monday

,

signaled his

approval of the ESM reform package.

According to Monday's decision, the joint backstop could be

introduced

before the

.

This rapid

is in the interests of Italy.

ESM euro rescue fund - reform stands: IMF called for quick decision

From the perspective of the

(IMF), the economic situation in the euro zone is developing more unfavorably than hoped a few weeks ago.

Because of the

, the

could

weaker

.

The IMF therefore not only urged a rapid start of the 750 billion euro Corona reconstruction program

;

The completion of the ESM reform and the

remained urgent tasks, it said.

The

discussed the ESM reform

together with their colleagues from the other EU countries.

Previously, they had

discussed the economic situation of the

particularly hard hit by

the

, including

, among

the smaller group of

.

Euro rescue fund ESM - reform stands: financial aid to Greece is released

According to the

, your

not critical for the time being, despite the pandemic crisis.

On the basis of this assessment, the ministers spoke out in favor of releasing

for Greece.

It had been saved from

with large billions in loans from the ESM

.

Greece is now financing itself on the

, but still has to

meet

requirements.