The creation of a European Financial Stability Facility (EFSF) was finalised by the agreement reached on 7 June 2010 between the 16 states who were members of the euro area at that date. This Facility, created for three years and available for members of the euro area, allows up to 440 billion euro to be borrowed to loan to a Member State which is no longer able to borrow from the markets, or only under too severe conditions.[...]