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ESM and EFSF

ESM and EFSF

ESM will have an overall lending capacity of 500 billion euros for Euro member states in difficulties. ESM started formally by 2013 instead of the voluntary EFSF with 440 million euros in lending capacity.

Financial assistance from the ESM and EFSF normally takes the form of loans.

ESM is the abbreviation for European Stability Mechanism. EFSF is: European Financial Stability Facility 

See also Euro Pact and Economic and Monetary Union 

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