‘European Stability Mechanism’, sometimes seen in the news, is an
This questions was previously asked in
UPSC CSP Previous Year Paper (2016)
agency created by EU to deal with the impact of millions of refugees arriving from Middle East
Incorrect Answeragency of EU that provides financial assistance to eurozone countries
Correct Answeragency of EU to deal with all the bilateral and multilateral agreements on trade
Incorrect Answeragency of EU to deal with the conflicts arising among the member countries
Incorrect AnswerExplanation:
The European Stability Mechanism is a European Union agency that provides financial assistance, in the form of loans, to eurozone countries or as new capital to banks in difficulty.
It helps euro area countries in severe financial distress. It provides emergency loans but in return, countries must undertake reform programmes.
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By: Abhipedia