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EU Response to the economic and financial crisis - June 2013

The economic crisis has prompted intense and sustained action by the EU's national governments, the European Central Bank and the Commission. All have been working closely together to support growth and employment, ensure financial stability, and put in place a better governance system for the future.

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Key events

ESM direct bank recapitalisation instrument

ESM direct bank recapitalisation instrument


The Eurogroup has agreed on the main features of the instrument’s operational framework and the steps ahead. The Eurogroup work program for the second half of 2013 will be focused on the macroeconomic and financial challenges the euro area is facing.


Statement by the Commission staff, ECB and IMF on the Greek review mission


European Commission MEMO Brussels, 19 June 2013 A mission from the EC, ECB, and IMF that has been reviewing the government's economic programme has made important progress. To allow completion of technical work, policy discussions will pause, but are expected to resume by the end of the month.


Statement by the EC and the ECB following the conclusion of the third review of the financial assistance programme for Spain


European Commission MEMO Brussels, 3 June 2013 A delegation from the European Commission, in liaison with the European Central Bank, the European Stability Mechanism and the European Banking Authority, carried out the third review of the financial sector assistance programme for Spain from 21 May to 31 May 2013.


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