European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011
Public bill · Government · Presented
Updates Ireland’s legal arrangements for the euro-area rescue funds, allowing the revised European Financial Stability Facility to provide not only loans but also precautionary support, bank recapitalisation funding and bond purchases, subject to agreed economic conditions. It increases Ireland’s authorised contribution to the facility from €7.5 billion to €12.5 billion and changes the guarantees and funding arrangements between participating countries. It also revises Greece’s loan terms by extending repayment periods, allowing a payment holiday and reducing the interest margin initially charged.
Formal long title
Bill entitled an Act to further facilitate, in the public interest, the financial stability of the European Union and the safeguarding of the financial stability of the Euro Area as a whole and for those purposes—(a) having regard to the participation by the State in the European Financial Stability Facility, to enable effect to be given to the Amendment to the EFSF Framework Agreement entered into by certain Member States of the European Union on the one part and the European Financial Stability Facility on the other part,(b) to enable effect to be given, in so far as it relates to the State, to the Amendment to the EUR 80 000 000 000 Loan Facility Agreement done in Brussels on 14 June 2011 and in Athens on 10 June 2011,(c) to amend the Euro Area Loan Facility Act 2010 and the European Financial Stability Facility Act 2010, and(d) to provide for related matters
Last updated 20 November 2019
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage Seanad
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages. Seanad
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Earlier Signature Motion Seanad
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (Resumed) Dáil
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (Resumed) Dáil
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Committee and Remaining Stages Dáil
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Order for Second Stage Dáil
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage Dáil
- European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011: Second Stage (Resumed) Dáil