European Financial Stability Facility

Definition:

A special purpose entity formed to preserve financial stability in Europe by providing financial assistance to eurozone states in difficulty. The Facility was agreed by the 27 member states of the EU on May 9, 2010 and can give loans up to a maximum of €440 billion to member states in need.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Variable cost

A cost that is directly proportional to the volume of output produced. When production is zero, the variable cost is equal to zero.

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