Before the end of this month, the 27 leaders of the European Council will convene once again in Brussels to increase the ‘firepower’ of the European Financial Stability Facility and its heir, the European Stability Mechanism (EFSF/ESM), with the ESM set to succeed the EFSF in July. The question, however, is with how much more firepower are the EFSF/ESM financial support mechanisms going to be provided?
In any case, the EFSF is expected to be recapitalised during the firs...
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