Bloomberg News

Germany Demands That ECB Pays Back EFSF Guarantee, FTD Reports

May 15, 2012

Germany and the European Financial Stability Facility has demanded that the European Central Bank pay back a 35 billion-euro ($45 billion) guarantee to the EFSF, Financial Times Deutschland said in a preview of a story that will run tomorrow, without saying where it got the information.

The ECB received the guarantee from the EFSF to cover risks during the Greek government debt swap in March and wants to keep it for as long as 10 months because of outstanding so-called selective default bonds, the newspaper reported.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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