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The European Union (EU), under the auspices of the European Financial Stability Mechanism (EFSM), and the European Financial Stability Facility (EFSF,) have finalised their issuance calendars to raise funds to provide financial support to Ireland. The calendars have been closely coordinated between the EU and the EFSF. This will ensure smooth market operations over the entire duration of the support programme. The EU intends to launch a first bond at the beginning of January. The EFSF is expected to follow with its first bond issue towards the end of January.

Luxembourg – Belgium, Slovakia and Slovenia recently confirmed commitment to the EFSF framework agreement and authorization of the agreement under its national laws. Following the EFSF Board of Directors on Friday 3 December all remaining issues have been cleared. All 16 Member States of the euro area have now signed up and are thus full EFSF members. Klaus Regling, Chief Executive Officer of the EFSF commented: “I welcome that all 16 euro area Member States have concluded their legal processes.

Luxembourg – The Slovak Finance Minister Ivan Mikloš yesterday confirmed commitment to the EFSF framework agreement and authorisation of the agreement under its national laws with effect from 30 September 2010. This brings a total of 14 out of the 16 member states to have confirmed commitment. Concerning the two remaining states, confirmation from the Belgian and Slovenia governments is expected shortly. The EFSF has been fully operational since 4 August 2010.

Luxembourg – All three major rating agencies assigned the best possible credit rating – Standard & Poor’s “AAA”; Moody’s “Aaa”; Fitch Ratings “AAA” - to the European Financial Stability Facility (EFSF), a Luxembourg-registered company which was set up by euro area Member States to preserve financial stability in Europe’s Economic and Monetary Union.

Luxembourg, 04 August 2010. Italy today transmitted officially its commitment confirmation of providing guarantees under the agreement of the European Financial Stability Facility (EFSF). The guarantee commitments of the euro area Member States to the EFSF now represent in aggregate more than 90% of the total amount. This implies that the obligation of the euro area Member States to issue guarantees under this agreement enters into force today and becomes immediately binding.

Luxembourg, July 16 2010. The Slovak Finance Minister Ivan Mikloš yesterday signed the framework agreement of the European Financial Stability Facility (EFSF), designed to provide a funding backstop should a euro area member state find itself in financial difficulties. Slovakia was the last euro zone member to officially approve the EFSF.

Luxembourg, July 1 2010. Klaus Regling took office on Thursday July 1 as Chief Executive Officer of the European Financial Stability Facility (EFSF).

The EFSF has been set up by the 16 countries whose currency is the euro to provide a funding backstop should a euro area member state find itself in financial difficulties.