European Financial Stabilization Mechanism

European Financial Stabilization 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 in order 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.
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5 billion), also supported by the European Financial Stabilization Mechanism and European Financial Stability Facility, bilateral loans from Denmark, Sweden, and the United Kingdom, and Ireland s own contributions.
Market players will be disappointed if the ECB decides that bond purchases will be limited and that they will not begin until after the European Financial Stabilization Mechanism (EFSM) or the European Stability Mechanism (ESM) have bought bonds themselves.
partners through the European Financial Stabilization Mechanism (EFSM) and
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