European Financial Stability Mechanism

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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.
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Under the EFSM, the European Commission is allowed to raise up to
In order to minimize cost and expedite development, the FSM3 team reused the eFSM code-base to begin developing the upgrade.
The EFSM is authorized to lend up to 60 billion euros to countries with weak government finances.
So I think it was absolutely right not to use the European Financial Stability Mechanism - the EFSM - for future payments in terms of Greece.
Proceeds form the issues will be used under the regulation of the European Financial Stability Mechanism, or EFSM, in connection with the European Union/International Monetary Fund aid packages, for Ireland and Portugal.
5 billion euros remaining in the EFSM fund - as well as 4.
1998] -- -- CRSM [Raju and Shaw 1994] -- -- EFSM [Valenzano et al.
CEGF also plans to make major investments in other cold storage companies: ETFF in Nantes and Loudeac, SAGG in Vannes, EEEFP in Parthenay, EFN in Nantes, EFSM in St.
We are determined to see a continuation in the encouraging recent improvement in the performance of eFSM pupils, which is one of the reasons we extended the Pupil Deprivation Grant to three to four-year-olds.
2 billion EUR under the EFSM bridge loan financing arrangement, of which more than 6 billion has been immediately used to pay back Greece's July ECB bond maturity, arrears to the IMF and a loan from the Bank of Greece.