ESM - European Stability Mechanism
Paolo Fioretti is an experienced finance professional currently serving as the Deputy Head of Financial Sectors & Market Analysis at the European Stability Mechanism since August 2012. In this role, Paolo acts as the Country Team Coordinator for Greece, Cyprus, and Ireland. Notably, Paolo has led the development and implementation of the repayment capacity methodology for the Single Resolution Board's Common Backstop. Prior to this, Paolo held various senior positions at the European Investment Bank and Fitch Ratings, including Acting Head of Banking and Director for the EMEA Financial Institutions team, where coverage included Italian, Greek, Cypriot, Qatari, and Saudi Arabian banks. Early career experience includes a role as a Credit Analyst at UniCredit. Paolo holds a Master's degree in Banking and Finance from Università Bocconi and completed studies at CUOA Business School.
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ESM - European Stability Mechanism
The ESM is the crisis resolution mechanism for euro area countries. The ESM issues debt instruments in order to finance loans and other forms of financial assistance to euro area Member States. The decision leading to the creation of the ESM was taken by the European Council in December 2010. The euro area Member States signed an intergovernmental treaty establishing the ESM on 2 February 2012. The ESM was inaugurated on 8 October 2012 and is based in Luxembourg.