The now-officially launched European Stability Mechanism (ESM) is assigned a AAA rating at...


The now-officially launched European Stability Mechanism (ESM) is assigned a AAA rating at Fitch. Among the positives is the ESM gets paid first, i.e., a "preferred creditor status." Also, the ESM's €500B in lending capacity is backed by €700B of callable capital (about €230B of which comes from Spain and Italy). The circle is complete.

Comments (2)
  • caupachow
    , contributor
    Comments (523) | Send Message
     
    It is settled, the euro is in crisis no more!
    8 Oct 2012, 10:56 PM Reply Like
  • sethmcs
    , contributor
    Comments (3546) | Send Message
     
    Fitch assigns AAA. Fitch being a French firm was there ever any doubt?
    8 Oct 2012, 11:56 PM Reply Like
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