ECB, EFSF, ESM, Eurobonds, and Political Horse Trading

Dimitris N. Chorafas

Chapter 4 in Breaking Up the Euro, 2013, pp 75-98 from Palgrave Macmillan

Abstract: Abstract The European Financial Stability Facility (EFSF) was established in 2010 to take care of relatively smaller financial problems confronting member states. The reason for its establishment lies in the fact that the EU’s Lisbon Treaty prohibits bailouts. The EFSF has no such clause in its charter, so it can do things the European Central Bank cannot do without violating its statutes.1

Keywords: Central Bank; Credit Rating; Public Debt; Government Bond; Nonperforming Loan (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33229-5_4

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DOI: 10.1057/9781137332295_4

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