European Financial Stability Facility
E97871
intergovernmental financial institution
special purpose vehicle
temporary crisis resolution mechanism
The European Financial Stability Facility was a temporary crisis resolution mechanism created by eurozone countries in 2010 to provide financial assistance to member states in economic difficulty during the sovereign debt crisis.
Aliases (5)
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
intergovernmental financial institution
→
special purpose vehicle → temporary crisis resolution mechanism → |
| alsoKnownAs |
EFSF
→
|
| appliesToJurisdiction |
euro area member states
→
|
| basedOn |
intergovernmental agreement among euro area member states
→
|
| borrower |
Greece
→
Ireland → Portugal → |
| continent |
Europe
→
|
| cooperatesWith |
European Central Bank
→
European Commission → International Monetary Fund → |
| country |
eurozone countries
→
|
| createdDuring |
European sovereign debt crisis
→
|
| createdFor |
support euro area countries that lost access to market financing
→
|
| currency |
euro
→
|
| dissolutionDate |
after full repayment of outstanding bonds and loans (planned)
→
|
| endOfLendingOperations |
2013
→
|
| foundedBy |
euro area member states
→
|
| fundingMethod |
issuance of bonds and other debt instruments on capital markets
→
|
| guaranteeCommitments |
780 billion euro
→
|
| guaranteedBy |
euro area member states
→
|
| hasCEO |
Klaus Regling
→
|
| hasSovereignRating |
AAA (initially)
→
|
| headquartersLocation |
Luxembourg City
→
|
| inception |
2010
→
|
| inceptionDate |
2010-06-07
→
|
| industry |
financial services
→
|
| legalForm |
société anonyme
→
|
| legislativeBody |
euro area member state parliaments (for guarantees approval)
→
|
| location |
Luxembourg
→
|
| mainSubject |
European sovereign debt crisis
→
|
| maximumLendingCapacity |
440 billion euro
→
|
| officialLanguage |
English
→
|
| operatingArea |
euro area
→
|
| parentOrganization |
euro area member states collectively
→
|
| purpose |
provide financial assistance to euro area member states in economic difficulty
→
safeguard financial stability in the euro area → |
| replacedBy |
European Stability Mechanism
NERFINISHED
→
|
| sector |
public finance
→
|
| sharesJurisdictionWith |
European Stability Mechanism
NERFINISHED
→
|
| sharesManagementWith |
European Stability Mechanism
NERFINISHED
→
|
| supervisedBy |
Eurogroup
→
|
| typeOfAid |
bank recapitalisation support via loans to governments
→
loan programmes → precautionary programmes → |
| website |
https://www.efsf.europa.eu
→
|
Referenced by (8)
| Subject (surface form when different) | Predicate |
|---|---|
|
European Stability Mechanism
→
European Stability Mechanism ("European Financial Stabilisation Mechanism") → European Stability Mechanism → |
predecessor |
|
European Stability Mechanism
("European Stability Facility")
→
European Stability Mechanism → |
relatedTo |
|
Treaty Establishing the European Stability Mechanism
("temporary European Financial Stability Facility")
→
Treaty Establishing the European Stability Mechanism ("European Financial Stabilisation Mechanism (as main euro area bailout tool)") → |
replaces |
|
European Financial Stability Facility
("EFSF")
→
|
alsoKnownAs |