The Instruments providing Macro-Financial Support to EU Member States. CEPS Research Report No 2017/06, March 2017

Following the financial crisis, the EU put in place a number of instruments aimed at providing macro-financial support to EU member states in difficulty, five of which remain in place. At the request of the European Parliament, CEPS carried out an in-depth assessment of the functioning and institutional arrangements of these support programmes with a view to providing a solid basis on which to design a sound architecture that can serve Europe for decades to come. This paper draws a number of important lessons from this assessment and identifies a few crucial issues that still need to be addressed