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Additional
European Financial Stability Fund
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European Financial Stability Facility
The
European Financial Stability Facility
(
EFSF
) is a
special purpose vehicle
financed by members of the
eurozone
to address the
European sovereign-debt crisis
. It was agreed by the 27
member states
of the
European Union
on 9 May 2010, with the objective of preserving financial stability in Europe by providing financial assistance to eurozone states in economic difficulty. The Facility's headquarters are in
Luxembourg City
, as are those of the
European Stability Mechanism
.
Treasury management
services and administrative support are provided to the Facility by the
European Investment Bank
through a service level contract. Since the establishment of the
European Stability Mechanism
, the activities of the EFSF are carried out by the ESM.
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