European Financial Stability Mechanism


Also found in: Acronyms.

European Financial Stability Mechanism

A lending facility established by the European Union to bail out member states in danger of default and other fiscal stress. The EFSM is permitted to borrow up to 60 billion euros to finance its objectives. Its debt is collateralized by the EU budget. It began operations in 2011 with a bond issue to assist the Irish government.
References in periodicals archive ?
5bn remaining in the European Financial Stability Mechanism fund - as well as 4.
David Cameron claimed he won a "clear and unanimous agreement" in 2010 the European Financial Stability Mechanism, which Britain contributes to, would not underwrite bailouts.
16 billion euro of the funds still available under the European Financial Stability Mechanism (EFSM), the EU emergency fund.
5billion, while the remaining EUR45billion is split equally between the European Financial Stability Fund and European Financial Stability Mechanism - within this is are loans from the UK, Sweden and Denmark.
Full browser ?