On Oct 21, Greece received 8b payment from the troika, the sixth installment of 110b bailout negotiated in May 2010. In a previous article on when Greece will likely to default, we believed that a Greek default is beneficial to Greece. Default on their current debt will help Greek government with their cash flow and improve their finances faster. They would not be able to borrow after default, but the easement on the current debt would allow them to better live within their cash flow.
The European Financial Stability Facility (EFSF) : The creation of an emergency special purpose vehicle (SPV)- On May 9th 2010 the 16 countries( Estonia joined on Jan 1 2011) that share the euro entered an agreement to form a new entity. It was incorporated in Luxembourg under Luxembourgish law on June 7th 2010. Read the rest of this article
The Greek financial minister just came out and announced the continuing receipt of aid from the IMF and ECB. And the European Financial Stability Facility (EFSF) seems to be well set up to deal with further problems. So what exactly is the EFSF? How will it help solve the current European crisis? Read the rest of this article
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