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ESM disburses €1 billion to Cyprus

Luxembourg – The European Stability Mechanism (ESM) disbursed today €1 billion to the Republic of Cyprus, completing the first tranche of the country’s financial assistance programme. The first part of this tranche (€2 billion) was transferred on 13 May 2013. Both disbursements were made in cash and cover fiscal needs and the roll-over of maturing debt.

As decided by the ESM Board of Governors on 24 April 2013, Cyprus will receive financial assistance from the ESM of up to €9 billion during the next three years.

EFSF disburses €3.3 billion to Greece

Luxembourg – The European Financial Stability Facility disbursed today €3.3 billion to Greece for budget financing and debt servicing needs. The funds were transferred in cash and the loan has a maturity of 32 years.

This disbursement constitutes the second tranche that completes the fourth EFSF instalment amounting to €7.5 billion. Greece has now received from the EFSF €130.6 billion out of the total committed amount of €144.6 billion. 

EFSF extends loan maturities for Ireland and Portugal

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) decided today to extend the maturities of its loans to Ireland and Portugal in the context of their assistance programmes. The average weighted maturity for all loans by the EFSF to Ireland and Portugal will now be extended by up to seven years.

Interview with Luxemburger Wort
ESM Board of Governors approves 2012 Annual Report

Luxembourg – The Board of Governors of the European Stability Mechanism (ESM) held its first annual meeting today at the ESM office in Luxembourg and approved the ESM Annual Report for 2012. The ESM Board of Governors comprises the 17 euro area finance ministers.

EFSF disburses €1.6 billion to Ireland

Luxembourg – The European Financial Stability Facility disbursed today €1.6 billion to Ireland. The funds were transferred in cash and the loan has a maturity of 29 years (2042).  

With this disbursement, Ireland has now received from the EFSF €14.4 billion out of the total committed amount of €17.7 billion.

Interview with Frankfurter Allgemeine Zeitung
Interview with TVI

 
"The European Crisis Outlook and its Implications on Asia"
Interview with 21st Century Business Herald (Chinese Business daily)

Question: You had visited Beijing and discussed China's investments in EFSF in Oct. 2011. Now you are going to China again. How much has China invested in EFSF/ESM until now?