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Introductory statement at the IIMA Symposium, Tokyo

Tokyo, March 4 2015 - Klaus Regling, Managing Director, ESM

Secular stagnation is a global concern. At the current juncture, all advanced economies - but also China - are facing very low or negative inflation rates. This is the case not only in the euro area, but also in the United Kingdom (UK) and the United States (US), where central banks have more forcefully intervened and nominal growth is more robust.

EFSF Board of Directors extends MFFA for Greece until 30 June 2015
Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) today decided to amend the Master Financial Assistance Facility Agreement (MFFA) for Greece to extend the availability of EFSF funds for Greece by four months. Instead of expiring on 28 February 2015, the MFFA now expires on 30 June 2015. The amended MFFA will be signed by EFSF CEO Klaus Regling and the Greek Finance Minister Yanis Varoufakis. 

Following this decision, €1.8 billion that is still available under the MFFA can be disbursed to Greece until 30 June 2015.

Interview with Phoenix TV
EFSF issues 30-year €1.5bn bond

Luxembourg –The European Financial Stability Facility (EFSF) placed today a €1.5 billion 30-year bond maturing on 17 February 2045. The issuance spread was fixed at mid swap plus four basis points. This implies a reoffer yield for investors of 1.229%. The coupon rate is 1.2%.

Interview with Nikkei Asian Review
Interview with Politique Internationale
Joint Statement by Finance Minister of Lithuania and ESM Managing Director

Lithuania joins the ESM

The Republic of Lithuania has today become the 19th member of the European Stability Mechanism (ESM). Lithuania has ratified the ESM Treaty and now acquires the full rights and obligations of ESM membership. Lithuania’s accession follows the adoption of the euro on 1 January this year. Lithuania will now fully benefit from the euro and from ESM membership.

Interview with TVI
Interview with Economico TV
EFSF issues 8-year €3 billion bond

 Luxembourg –The European Financial Stability Facility (EFSF) placed today a €3 billion 8-year bond maturing on 20 January 2023. The issuance spread was fixed at mid swap minus three basis points. This implies a reoffer yield for investors of 0.55%. The coupon rate is 0.5%.