European Stability Mechanism

Crucially, this so-called European Stability Mechanism will force private creditors to share the pain if a nation is deemed insolvent - that is, if its debts are too big to repay.

Eurozone ministers say there's enough money to handle debt crisis Gabriele Steinhauser 2010

That was the date when the Eurogroup — the finance ministers of countries that use the single currency — introduced seniority for the European Stability Mechanism, which is the permanent successor to the European Financial Stability Facility, also known as Europe ' s bailout funds.

Europe Daniel Gros 2010

The commission, the EU's executive arm, said the European Stability Mechanism should be up and running in July 2012 instead of mid-2013 as previously planned.

European Stocks Swing to Black Ishaq Siddiqi 2011

In a panel discussion with two other European finance ministers, Mr. Schäuble and European Commissioner Olli Rehn expressed confidence that both the pact and the treaty governing the European Stability Mechanism will be concluded at a summit in Brussels Monday.

Schäuble Sees Fiscal Pact Speeding Permanent Bailout Fund Geoffrey T. Smith 2012

Fixing the European Stability Mechanism and boosting the lending power of the EFSF from the current €200 billion-plus could be put off again, though it wouldn't look good.

Greece Shows Challenge of Unifying Europe Stephen Fidler 2011

The risk is that whatever solution is stitched up this month will only provide Greece with funding until mid-2013, when the current International Monetary Fund program is due to end and the new permanent European Stability Mechanism, under which debt restructuring is a possibility, is introduced.

Kicking The Greek Can Richard Barley 2011

Agreements on the European Stability Mechanism and the fiscal pact are "a further step, but there are still sizeable risks," according to Mr. Abberger.

Ifo Upbeat on Germany's 2012 Prospects Beate Preuschoff 2012

But Finland also wants to introduce some of the rules of the European Stability Mechanism, due to come into existence in 2013.

Moving Finnish Line Confounds Euro Zone Richard Barley 2011

But, according to a person in the room, the summit opened with German Chancellor Angela Merkel emphasizing her opposition to a plan that had broad support among other countries—giving a banking license to the European Stability Mechanism, its future bailout fund.

Tensions Rise at EU Summit Stephen Fidler 2011

But there is a major inconsistency in his position: Under the European Stability Mechanism, due to take effect in 2013, he says private-sector involvement will be needed when debt is deemed unsustainable.

The Wolfgang at Greece's Door Simon Nixon 2011