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Examples
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The EFSM is the most straightforward of Europe's bailout facilities: it is administered by the European Commission, backed by the European Union budget and fully guaranteed by the E.U.'s 27 members, ensuring a cast-iron triple-A rating.
Europe's Bond Success: A Sign of Things to Come? Richard Barley 2011
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Mechanism EFSM, which is managed by the European Commission and the European Financial
EU, EFSF to start raising Irish cash in January - Yahoo! Finance 2010
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Investors in both the EFSF and EFSM are essentially betting the core countries in Europe will bear the cost of the crisis in some form.
Europe's Bond Success: A Sign of Things to Come? Richard Barley 2011
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Following the Irish and Portuguese bailouts, €37.5bn £32.7bn is left in the EFSM, presenting a potential British liability of €5.5bn.
Treasury minister's faith in euro falters amid Greek debt crisis 2011
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For instance, Ireland and Greece are paying an interest rate of about 5.2% on the emergency finance they've been given by the International Monetary Fund and the European Union under its EFSF and EFSM programs, well below what the market demands.
Germany Won't Fancy Alen Mattich 2011
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The strong appetite for the EFSM issue — essentially a common European bond — should send a powerful signal to Europe's politicians about one potential solution to the crisis.
Europe's Bond Success: A Sign of Things to Come? Richard Barley 2011
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Following the Irish and Portuguese bailouts, €37.5bn £32.7bn is left in the EFSM, presenting a potential British liability of €5.5bn.
Treasury minister's faith in euro falters amid Greek debt crisis 2011
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As a result, it is likely to have to pay a premium over EFSM to borrow.
Europe's Bond Success: A Sign of Things to Come? Richard Barley 2011
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The European Union has put in place a European Financial Stability Mechanism EFSM that issued 48.5 billion euros to rescue Portugal and Ireland.
Georges Ugeux: France's Downgrade Threatens the Eurozone's AAA Georges Ugeux 2012
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That makes the EFSM an attractive prospect for yield-hungry investors.
Europe's Bond Success: A Sign of Things to Come? Richard Barley 2011
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