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European Financial Stability Facility

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1 European Financial Stability Facility on Tue Nov 23, 2010 2:05 am

The EFSF can issue bonds or other debt instruments on the market with the support of the German Debt Management Office to raise the funds needed to provide loans to countries in financial difficulties. Emissions of bonds would be backed by guarantees given by the euro area member states in proportion to their share in the paid-up capital of the European Central Bank (ECB).
The Facility may be combined with loans up to €60 billion from the European Financial Stabilisation Mechanism (reliant on funds raised by the European Commission using the EU budget as collateral) and up to €250 billion from the International Monetary Fund (IMF) to obtain a financial safety net up to €750 billion.[4]
If there is no financial operation in activity the EFSF would close down after three years, on 30 June 2013. If there is a financial operation in activity, then the Facility would exist until its last obligation has been fully repaid.[5][6]

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