| Author (Corporate) | Council of the European Union: General Secretariat |
|---|---|
| Series Title | Press Release |
| Series Details | PRES/13/273 (21.06.13) |
| Publication Date | 21/06/2013 |
| Content Type | Legislation, News |
|
The Council on 21 June 2013 adopted decisions extending the maturities of loans to Ireland and Portugal from the European Financial Stabilisation Mechanism (EFSM). The average maturity is increased by seven years, from 12.5 years to 19.5 years, in order to smoothen the countries' debt redemption profiles and lower their refinancing needs in the period subsequent to their economic adjustment programmes. The aim is to support the two countries' efforts to regain full access to market financing and thus to successfully exit their economic adjustment programmes. |
|
| Source Link | http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/137563.pdf |
| Subject Categories | Economic and Financial Affairs, Politics and International Relations |
| Countries / Regions | Europe, Ireland, Portugal |
