European Financial Stabilisation Mechanism (EFSM)

  The Economic and Financial Affairs Council (ECOFIN) approved a 7.1-billion-euro bridge loan to Greece on Friday. The loan will be given through the European Financial Stabilisation Mechanism (EFSM) and is meant to finance Greece’s short-term obligations, including a 3.5-billion-euro bond payment to...

Greece is on track to begin negotiations on a third bailout package. Finland, one of Greece’s most hardline negotiating partners during the past weekend, authorized its government to engage in negotiations on the European Stability Mechanism (ESM) bailout package for Greece as well...