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The Board of Governors of the European Stability Mechanism (ESM), which comprises the 19 euro area finance ministers, appointed Deputy Managing Director Christophe Frankel to the position of ESM Managing Director for an interim period. Mr Frankel will perform the duties of Managing Director until 31 December 2022 or such earlier date as a new Managing Director appointed by the Board of Governors takes office.

ZDFheute: Herr Regling, wenn wir in der aktuellen Krise zurückblicken auf die Eurokrise, erscheint die damalige Krise ja vergleichsweise harmlos, oder?

ZDFheute: Mr Regling, when we look back on the euro crisis during the current crisis, the crisis back then seems comparatively harmless, doesn't it?

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Your Royal Highness,
Excellencies,
Distinguished guests,

(Luxembourg) - The European Financial Stability Facility (EFSF) raised €3.5 billion in a bond sale on Tuesday that concluded its €19.5 billion funding needs in 2022.

The issue is a new 2.375% bond maturing on 11 April 2028. The spread was fixed at mid-swaps minus 19 basis points, for a reoffer yield of 2.466%. The order book was in excess of €15 billion, excluding joint lead managers’ interest.

The EFSF raises 3.5bn in a new April 2028 bond, the final EFSF deal of 2022.

Die Zeit: Herr Regling, jetzt gibt die Bundesregierung wieder viele Milliarden aus, um die Wirtschaft zu retten. Sie sind Rettungsexperte: Kann das funktionieren? 

Die Zeit: Mr Regling, now the German government is again spending many billions to save the economy. You are a rescue expert: will that work?