In addition, the lending rate from the European Financial Stability Facility (EFSF) is a mere 1–10 basis points over the average borrowing cost of the EFSF.
See the President’s Working Group on Financial Markets (2008), “Policy Statement on Financial Market Developments“ (Washington: President’s Working Group, March), p. 9; FSF Working Group on Market and Institutional Resilience (2008), Interim Report to the G-7 Finance Ministers and Central Bank Governors (Basel: Financial Stability Forum, April), p. 8; and FSF Working Group on Market and Institutional Resilience (2008), Report of the Financial Stability Forum on Enhancing Market and Institutional Resilience (Basel: FSF, October), p. 47.