.jpg)
The European Financial Stability Facility (EFSF) and the European Stability Mechanism (ESM) have revised their funding needs for this year and the next. The EFSF will now raise €49 billion in total in 2017, an increase of €9 billion. The ESM will raise €12.5 billion in total this year, a decrease of €4.5 billion. The combined funding needs for the two institutions for 2017 will, therefore, be €61.5 billion. While this means an overall increase of €4.5 billion in comparison to the numbers announced previously, the joint funding needs for the remainder of the year will decrease by €1.7 billion.
(in € billions)
|
|
Q1 |
Q2 |
Q3 |
Q4 |
TOTAL 2017 |
TOTAL 2018 |
|
EFSF new |
9.5 |
19.2 |
14.5 |
5.8 |
49 |
22 |
|
EFSF old |
9.5 |
13 |
13 |
4.5 |
40 |
21 |
|
ESM new |
6.5 |
1.5 |
0 |
4.5 |
12.5 |
23 |
|
ESM old |
6.5 |
3.0 |
2.0 |
5.5 |
17 |
20 |
“We place great value on transparent communication to inform the market and our investors. This is why we publish our quarterly funding targets in advance. However, these amounts are always subject to change, due to various external factors. We are confident that our diversified funding strategy and the current favourable market conditions will allow us to raise the necessary funding,” said Siegfried Ruhl, ESM Head of Funding.
