About: EFSF

Euro & Finance 07-07-2015

German economists predict higher risk of Grexit following referendum

After the “No” vote in Greece, German economists are saying “it boils down to a Grexit”, predicting the country is on its way out of the eurozone. EURACTIV Germany reports.
Euro & Finance 03-07-2015

EU declares Greece in default just before referendum

Greece was officially declared in default today (3 July), injecting even more urgency into a make-or-break weekend referendum that new polls suggest is too close to call.
Euro & Finance 30-06-2015

Greece to lose €16.3 billion at midnight

Assuming that there is no last-minute deal between Athens and its creditors, Greece will lose €16.3 billion of financing at midnight Washington time today (30 June), EU officials told the press in Brussels.
Elections 27-01-2015

Germany presses new Greek leaders to maintain reforms

After the far-left Syriza party triumphed in the Greek elections this Sunday, Germany is still insisting on the country’s implementation of reforms, which were part of the conditions of the country's bailout. Meanwhile German industry has warned the party’s leader, Alexis Tsipras, against changing course. EURACTIV Germany reports.
Euro & Finance 13-12-2012

Greece: Finance ministers clear €49bn aid tranche

Eurozone finance ministers and the International Monetary Fund have agreed to release €49.1 billion in aid to Greece by the end of March, a sum that should help the country stay afloat until then and avoid bankruptcy.
Euro & Finance 03-12-2012

Eurozone bailout funds downgraded over French fears

Credit ratings agency Moody's has cut its rating for the eurozone rescue funds ESM and EFSF to Aa1 from Aaa following its downgrade of France earlier in November.
Euro & Finance 24-09-2012

Eurozone to boost bailout fund firepower to €2 trln: report

Eurozone states are preparing to allow the bloc's permanent bailout fund to leverage its capital in the same way as its predecessor so it can reach a capacity of more than €2 trillion and rescue big countries if necessary, Der Spiegel reported yesterday (23 September).
Euro & Finance 04-07-2012

All eyes to turn to Karlsruhe on 10 July

On 10 July, the eyes of Europe will be on Karlsruhe, where Germany’s Constitutional Court is located. Judges will examine appeals brought against the European Stability Mechanism (ESM), the main European bailout fund, and the fiscal pact. EURACTIV Germany reports.
Euro & Finance 28-06-2012

Opposition builds against ‘Van Rompuy paper’ for fiscal union

EU heads of states and government who start their two-day summit today “have problems” deciding what to do with proposals for greater fiscal and political integration tabled by European Council President Herman Van Rompuy and three other leaders, EURACTIV was told.
Euro & Finance 22-06-2012

Eurozone vows to act rapidly on Spain

Eurozone ministers are pressing Spain to formalise its bank aid request at the latest by Monday, and promise to send international creditors to Greece to hold talks with the newly formed government. 
Euro & Finance 08-06-2012

Downgraded Spain seeks ‘at least’ 40bn bank bailout

Without waiting for a widely expected EU rescue, credit ratings agency Fitch cut Spain's sovereign rating to BBB from A with a negative outlook, saying Madrid was especially vulnerable to a worsening of the euro zone debt crisis.
Euro & Finance 18-04-2012

Some analysts say a Spanish bailout is inevitable

  Economic experts watching Spain don't know how much money will be needed or precisely when, but some are near certain that Madrid will eventually seek a multibillion euro bailout for its banks, and perhaps even for the state itself.
Euro & Finance 30-03-2012

Eurozone agrees temporary boost to rescue fund

Eurozone finance ministers agreed on Friday (30 April) on a temporary increase, up to €700 billion, of their financial rescue capacity to prevent a new flare-up of Europe's sovereign debt crisis, but markets may judge it too small to be convincing.
Euro & Finance 20-03-2012

Schäuble in pole position for Eurogroup race

German Finance Minister Wolfgang Schäuble is seen as the best candidate to become the next president of the Eurogroup. EURACTIV.de and EURACTIV.fr report on reactions in Germany and France.
Euro & Finance 17-01-2012

Rescue fund’s credit rating drop adds to euro woes

Standard & Poor's cut its credit rating of the eurozone's rescue fund, the European Financial Stability Facility (EFSF), on Monday (16 January), claiming its decision was inevitable following cuts three days earlier to the creditworthiness of France and Austria, two of the EFSF's guarantors.
Euro & Finance 19-12-2011

Draghi kills hopes of large-scale ECB intervention

EU politicians have to move fast to make their bailout fund operational, European Central Bank President Mario Draghi said on Sunday (18 December), killing hopes that the ECB would engage in full-blown quantitative easing – printing money – to buy government bonds and ease  funding strains.
Euro & Finance 30-11-2011

Eurozone rescue plan enters endgame

Eurozone finance ministers approved leverage methods of the Financial Stability Facility (EFSF) last night (29 November) although details remained hazy over the involvement of the International Monetary Fund and the European Central Bank in future bailout schemes.
Euro & Finance 29-11-2011

Pressure mounts as Eurogroup gathers

Eurozone finance ministers are to agree today (29 November) the details of bolstering their bailout fund to help prevent contagion in bond markets, under pressure from the United States and ratings agencies to staunch a two-year-old debt crisis. 
Euro & Finance 04-11-2011

G20 summit leaves rescue fund dangling

The G20, knocked off course by the escalating political crisis in Greece, agreed in principle today (4 November) that the International Monetary Fund could assist Europe's rescue fund, but left specifics to be dealt with in February.
Future EU 28-10-2011

Europe sighs relief after summit, but doubts linger

EU leaders' decisions taken early on Thursday (27 October) were greeted with widespread relief across Europe, but the summit outcome was tempered by worries on the complexity of the deal. The EURACTIV network reports from Europe's capitals.
Euro & Finance 27-10-2011

Eurozone hopes rest on summit ‘bazooka’

European leaders achieved a breakthrough early today (27 October) to write off half of Greece's debt and seek foreign capital to double the eurozone's bailout fund to around €1 trillion. But crucial details on the fund's size were left for finance ministers to decide end of November.
Euro & Finance 27-10-2011

EU chiefs to charm China on boosting bailout fund

Eurozone leaders meeting for a marathon summit agreed last night (26 October) on plans to leverage the Financial Stability Facility (EFSF) and create a "special investment vehicle" designed to lure investment from China, Brazil and Middle Eastern countries. A definitive agreement on the EFSF's full size will, however, not be finalised until late November.
Euro & Finance 25-10-2011

Euro zone crisis: Is the EU’s political suicide the only solution?

European leaders must be desperate to consider their main external partners, via the IMF, as the new solution to save the European economy. Should they accept this, they will enter world history as those who buried the European project and turned Europe into a second-rank actor, writes Maria Joao Rodrigues, a former Portuguese minister and adviser to the EU institutions.
Euro & Finance 23-10-2011

EU leaders nervous over IMF involvement in bailout fund

Involving IMF member countries such as China and Russia in leveraging the firepower of the euro zone bailout fund, the European Financial Stability Facility (EFSF), is one of two options that remained on the table – but unagreed – as the European Council and Eurozone countries met in Brussels today (23 October).