What is EFSF?

The European Financial Stability Facility (EFSF) was created by the euro area Member States following the decisions taken on 9 May 2010.

The EFSF’s mandate is to safeguard financial stability in Europe by providing financial assistance to euro area Member States.

In short, it is the fireman of the Euro Debt Crises. But now the question, EFSF doesnt have enough “water” to put off the “fire” (PIIGS debt).