Eurogroup boosts emergency funding facility

European Union flag

Eurozone finance ministers today agreed to combine the two emergency fund vehicles in the region to enhance its firepower. The combined instrument will be able to lend €500 billion ($666 billion).

In a statement, the Eurogroup of finance ministers announced that the European Stability Mechanism (ESM) would from July 2012 be financing any new programmes deemed necessary in the eurozone. The European Financial Stability Facility (EFSF) will "as a rule, only remain active in financing programmes

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.