Think I found what will crucify you... over the point we disagreed

"Like the IMF, the ESM will provide stability support to an ESM Member when its regular access to market financing is impaired or is at risk of being impaired. Reflecting this, Heads of State or Government have stated that the ESM loans will enjoy preferred creditor status in a similar fashion to those of the IMF, while accepting preferred creditor status of the IMF  over the ESM. This status will be effective as of the date of entry into force of this Treaty. In the event of ESM financial assistance in the form of ESM loans following a European  financial assistance programme existing at the time of the signature of this Treaty, the ESM  will enjoy the same seniority as all other loans and obligations of the beneficiary  ESM Member, with the exception of the IMF loans.
I understand that in no circumstances a shift of liabilities off any member's book is possible.