TALLINN – On Feb. 2, The Estonian government approved the European Stability mechanism (ESM) foundation agreement and gave authorities to Estonia's permanent representative to the EU Matti Maasikas to sign the agreement, LETA/National Broadcasting reports.
After the agreement is signed, it will be submitted to Riigikogu for ratification.
The ESM will fulfil the current tasks of European Financial Stability Fund (EFSF) and European Financial Stability Mechanism (EFSM). ESM should come in force from July 1, 2012.
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