The ESM is the crisis resolution mechanism for euro area countries. The ESM issues debt instruments in order to finance loans and other forms of financial assistance to euro area Member States.
The decision leading to the creation of the ESM was taken by the European Council in December 2010. The euro area Member States signed an intergovernmental treaty establishing the ESM on 2 February 2012. The ESM was inaugurated on 8 October 2012 and is based in Luxembourg.
The ESM is looking for a trainee to help advance the Knowledge Management (KM) efforts in the ESM’s Legal division. The selected candidate will report to the General Counsel (GC).
The European Stability Mechanism (ESM) is the permanent crisis resolution mechanism for euro area countries. It provides financial assistance to Members facing financing difficulties. To date, the ESM and its predecessor organisation, the European Financial Stability Facility (EFSF), have launched six financial assistance programmes to five countries, provided financial support, monitored repayment capacity, and engaged with partner institutions for programme design in areas of financial interest. Upon ratification of its amended treaty, the ESM will take up its stronger role in financial stability risk analysis and the design of policy measures in programmes jointly with the European Commission; it will provide the Single Resolution Board with a financial backstop to support effective and orderly resolution of banks.
The Legal and Procurement division is organised along four practice areas: Institutional and Corporate, Capital Markets, Lending and Banking and Human Resources. They cover the following areas of work: institutional law (EU law and Public International Law), capital markets law, banking law, lending law and international civil servant law.
