EFSF

With two bailouts and three years of austerity measures failing to right Greece's faltering economy, Klaus Regling, Chief Executive officer of the European Financial Stability Facility (EFSF) says the country will need more time before reforms work but he...

After winning approval from Eurozone finance ministers and the International Monetary Fund for the release of $56.7 billion of rescue loans as part of a second bailout of $172 billion, Greek Prime Minister Antonis Samaras is turning his attention...

After being upstaged when Eurozone finance ministers couldn’t agree on releasing a long-delayed $38.8 billion loan installment to keep Greece’s economic alive, Prime Minister Antonis Samaras said after a European Union budget meeting failed that he believes the monies...

ATHENS – With new estimates that a five-year-recession worsened by austerity measures demanded by international lenders has created a $37 billion gap in recovery plans, Prime Minister Antonis Samaras has given Greece’s creditors a letter explaining that the country...

There is a serious possibility the Cyprus government might have to turn to the European Financial Stability Facility (EFSF) in order to get support for its banking system, Acting Government Spokesman Christos Christofides said on Tuesday. Speaking to the press,...

ATHENS – With Greece’s bank sector reeling in the wake of big losses imposed by the government as part of a deal with international lenders to reduce its debt, the country’s four largest banks have been given 18 billion...

Former Greek prime minister Lucas Papademos warned Greece may run out of money by the end of June if international bailout funds are cut off following next month's election, a newspaper reported on Sunday. "From late June onwards, the ability...

New Cyprus Central Bank Governor Panicos Demetriades did not exclude the possibility for Cyprus to seek entry to the European bailout mechanism (European Financial Stability Facility - EFSF), in a bid to support the recapitalization efforts by Cyprus Popular...

Euro zone governments kept Greece afloat on Wednesday after agreeing on a payment of 5.2 billion euros from the region's bailout fund, despite opposition from some member states following the Greek election results. After a conference call, the board of...

Greece will take more time to wrap up a bank recapitalization plan it was set to unveil on April 20 and key terms may be have to wait until after a May 6 national election, government officials said on...