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 th

To continue reading...

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 indvidual account here: