Bail-Out Fund

Bail-Out Fund
The European Financial Stability Facility (EFSF, which is simplified in the media to the Bail-Out Fund) is a Special Purpose Vehicle created by twenty-seven member States of the European Union on 9 May 2010 following the economic crisis of 2008 – 2010, for the sole purpose of financially helping the Member States, thus preserving the financial stability of the euro-zone in the case of economic difficulty. Formally, it is a company set up under Luxembourg law and is based in Avenue John F. Kennedy 43 in Luxembourg, and its current President is the German Klaus Regling. As from July 2012 it will be replaced by the European Stability Mechanism, with the provision that financial assistance to insolvent countries depends on the participation of the private sector (the so-called bail-in).
Gruppo Banca IFIS
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