{"id":2325,"date":"2024-05-01T17:46:17","date_gmt":"2024-05-01T12:16:17","guid":{"rendered":"https:\/\/lotusarise.com\/qna\/?p=2325"},"modified":"2024-05-01T17:46:17","modified_gmt":"2024-05-01T12:16:17","slug":"q-european-stability-mechanism-sometimes-seen-in-the-news-is-an","status":"publish","type":"post","link":"https:\/\/lotusarise.com\/qna\/upsc\/q-european-stability-mechanism-sometimes-seen-in-the-news-is-an","title":{"rendered":"Q.\u00a0\u2018European Stability Mechanism\u2019, sometimes seen in the news, is an"},"content":{"rendered":"\n<ul class=\"mcq wp-block-list\">\n<li>agency \u00a0created by EU to deal with the impact of millions of refugees arriving from Middle East<\/li>\n\n\n\n<li>agency of EU that provides financial assistance to eurozone countries<\/li>\n\n\n\n<li>agency of EU to deal with all the bilateral and multilateral agreements on trade<\/li>\n\n\n\n<li>agency of EU to deal with the conflict arising among the member countries<\/li>\n<\/ul>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>Answer:<\/strong>&nbsp;<strong>(b)&nbsp;agency of EU that provides financial assistance to eurozone countries<\/strong><\/p>\n<\/blockquote>\n\n\n\n<h5 class=\"wp-block-heading\" id=\"european-stability-mechanism-esm\">European Stability Mechanism (ESM):<\/h5>\n\n\n\n<ul class=\"wp-block-list\">\n<li>European Stability Mechanism (ESM) was\u00a0an international financial institution\u00a0<strong>set up by the euro area Member States to help euro area countries in severe financial distress.<\/strong><\/li>\n\n\n\n<li>The European Stability Mechanism (ESM) was set up in October 2012 as a successor to the European Financial Stability Facility (EFSF).<\/li>\n\n\n\n<li><strong>It provides financial assistance, in the form of loans, to eurozone countries or as new capital to banks in difficulty<\/strong>, with a\u00a0<strong>maximum lending capacity of \u20ac500 billion.<\/strong><\/li>\n\n\n\n<li>This assistance is granted only if it is proven necessary to safeguard the financial stability of the euro area as a whole and of ESM Members.<\/li>\n\n\n\n<li>It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Answer:&nbsp;(b)&nbsp;agency of EU that provides financial assistance to eurozone countries European Stability Mechanism (ESM):<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1,3],"tags":[47],"years":[57],"class_list":["post-2325","post","type-post","status-publish","format-standard","hentry","category-upsc","category-prelims","tag-international-relations","years-57"],"acf":[],"taxonomy_info":{"category":[{"value":1,"label":"UPSC"},{"value":3,"label":"Prelims"}],"post_tag":[{"value":47,"label":"International 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