| Business / Finance Topics |
European Financial Stabilisation Mechanism (EFSM)
An EU facility, based on Article 122(2) of the Treaty, that allows the Commission to raise up to €60 billion on behalf of the EU for lending to EU Member States experiencing, or being threatened with, exceptional circumstances beyond their control. EFSM lending is subject to strong conditionality in the context of joint EU-IMF programmes. (European Central Bank)
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