<p class="paragraph">While the move will lead to ESM playing a larger role in future bailouts, the latest agreement allows it to be a backstop to the Single Resolution Fund (SRF), which provides support to failing banks in the eurozone. “This means that if the resources of the SRF are depleted, the ESM can lend money to the SRF to finance the resolution of a bank,” the ESM’s Managing Director Klaus Regling said on Monday after the meeting. </p>
