European Financial Stability Facility: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
(Spacing.)
imported>Doug Williamson
(Updated continuance of assistance programme for Greece.)
Line 6: Line 6:
The Facility was replaced by the European Stability Mechanism (ESM) in 2012 which finances new programmes.   
The Facility was replaced by the European Stability Mechanism (ESM) in 2012 which finances new programmes.   


Its final assistance programme for Greece expired in 2015.
Its final assistance programme for Greece expired in 2015. However, a third assistance programme was negotiated.


However, it continues to administer outstanding loan repayments and payouts to bond holders in close co-operation with the ESM.
EFSF continues to administer outstanding loan repayments and payouts to bond holders in close co-operation with the ESM.





Revision as of 15:25, 8 November 2017

The European Financial Stability Facility (EFSF) was established in 2010 as a temporary rescue mechanism.

The EFSF’s mandate was to safeguard financial stability in Europe by providing financial assistance to Euro zone Member States.


The Facility was replaced by the European Stability Mechanism (ESM) in 2012 which finances new programmes.

Its final assistance programme for Greece expired in 2015. However, a third assistance programme was negotiated.

EFSF continues to administer outstanding loan repayments and payouts to bond holders in close co-operation with the ESM.


See also