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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.

 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%.

What have we learned from the Euro area crisis?

Lisbon, January 12 2015 - Klaus Regling, Managing Director, ESM

Good morning. It’s great to be back in Lisbon again – I have been here many times in the past few years though the last time I spoke at a public event like this was in October 2011.

Ms. Maria Luis Albuquerque, Minister for Finance of Portugal, held today a productive and useful meeting with Mr. Klaus Regling, Managing Director of the European Stability Mechanism (ESM).

The Minister discussed with Mr. Regling the latest developments in Portugal after the successful exit from its economic adjustment programme in May, which benefitted from EFSF financial assistance, and the first post-programme surveillance mission late last year in which the ESM participated in the framework of its Early Warning System.

Internal changes at the ESM following adoption of bank recapitalisation instrument

Extension of the EFSF programme and EFSF bonds for Greece

Luxembourg – The Board of Directors of the European Financial Stability Facility (EFSF) decided today to grant Greece a two-month technical extension of its 2nd Economic Adjustment Programme financed by the EFSF. Instead of ending on 31 December 2014, the EFSF programme will now end on 28 February 2015. The decision follows a request from the Greek Finance Minister Gikas Hardouvelis.