Misleading accounting lends undeserved credibility to the European Stability Mechanism
Misleading account at the European Stability Mechanism
Published on 24th April 2023
The European Stability Mechanism is the main bailout mechanism behind the euro. Croatia recently joined it upon adopting the euro. The ESM uses two accounting tricks to make it appear larger and more robust than it actually is, disguising that it lacks the firepower to […]