Nieuwsbrief ESM

At the end of June, EFSF will end its original mandate and will no longer finance new programmes.

Since its inaugural issue in January 2011, EFSF has successfully raised € 98 billion in the medium- and long-term markets and has provided additional assistance in the form of cashless transactions. In total, EFSF has provided around €162 billion to Ireland, Portugal and Greece and has contributed to the restoration of stability in the euro area by being the financial backstop for Member States in difficulty.

EFSF will, of course, continue to finance its existing programmes for Ireland, Portugal and Greece. The programme for Ireland will be completed by the end of 2013. The programmes for Portugal and Greece will be completed in2014. Once the programmes have finished, it will also continue to roll over the maturing debt until all the loans have been repaid by the beneficiary Member States.Consequently, EFSF will remain an important issuer of medium- and long-term bonds for the years to come.