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

In: Breaking Up the Euro

Author

Listed:
  • Dimitris N. Chorafas

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

Suggested Citation

  • Dimitris N. Chorafas, 2013. "ECB, EFSF, ESM, Eurobonds, and Political Horse Trading," Palgrave Macmillan Books, in: Breaking Up the Euro, chapter 4, pages 75-98, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-33229-5_4
    DOI: 10.1057/9781137332295_4
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