EFSF — making the predictable interesting

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EFSF — making the predictable interesting

As one of Europe’s bail-out borrowers, the European Financial Stability Facility has to be able to fund whether the markets are heading down the drain or through the roof. It has moved to make its funding programme at once flexible and boringly predictable — and is able to tilt at almost any part of the curve with resounding success. Tessa Wilkie reports.

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