The eurozone bailout fund must set terms of rescue packages to come as well as accomplish fiscal rules in order to take over several of the European Commission’s duties. Germany aims to make use of better control concerning the funds spent on the weaker economies in Europe.
The ESM started in 2012, a “firewall” fund for lending money to distressed nations. The Bundesbank hopes that the ESM will evaluate the economic outlook who have been applying for the bailout at the same time be able to recognize the financial demands of each country.
The Bundesbank stated that the ESM would be able to use “independent fiscal authority” to the eurozone.
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