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UPSC 2016: ‘European Stability Mechanism’, sometimes seen in the news, is an
(a)agency created by EU to deal with the impact of millions of refugees arriving from Middle East
(b)agency of EU that provides financial assistance to eurozone countries
(c)agency of EU to deal with all the bilateral and multilateral agreements on trade
(d)agency of EU to deal with the conflicts arising among the member countries
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Not attemptedCorrect Answer: (b) agency of EU that provides financial assistance to eurozone countries
The European Stability Mechanism (ESM), created in 2012, is the permanent euro-area ‘rescue fund’ that provides financial assistance (loans, credit lines, bank-recapitalisation support) to member countries of the eurozone facing, or threatened by, severe financing problems. It is not concerned with refugees, trade, or dispute resolution. Hence option (b) is correct. ([esm.europa.eu](https://www.esm.europa.eu/about-us/what-we-do?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 2016 Current Affairs question?▼
The correct answer is option (b): agency of EU that provides financial assistance to eurozone countries. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this International Organisations & Groupings question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 2016, GS Paper 1, as Question 82. It falls under Current Affairs > International Organisations & Groupings.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from International Organisations & Groupings?▼
UPSC has asked 69 questions from International Organisations & Groupings (under Current Affairs) across multiple years. Visit the topic page to see the full list and year-wise trends.