No agreement on new head of the ESM crisis fund

The finance ministers of the eurozone have not yet been able to agree on a new head for the European bailout fund ESM. The ESM said on Thursday that the board of directors had discussed the issue in Luxembourg and would continue to do so in the coming weeks. The board is made up of the €19 finance ministers. The term of the current ESM head, Klaus Regling, ends on October 7. The German played a key role in shaping the crisis fund, which was established in response to the sovereign debt crisis ten years ago, and set it up to take on additional tasks.

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