Austria Continues to Face Billion-Euro Liabilities Related to the EFSF

Sept 17, 2026 Benn-Ibler Rechtsanwälte

Spain, Cyprus, and Greece, the former programme countries, continue to meet their public debt obligations, according to the Finance Minister’s latest report on the European Stability Mechanism (ESM) for the second quarter of 2026. Spain will no longer be subject to monitoring; however, EUR 7.3 billion in assistance loans remains outstanding to the ESM.

New figures have been published concerning the temporary European Financial Stability Facility (EFSF). By the end of the second quarter of 2026, Austria had received approximately EUR 251.3 million in interest income from bilateral loans extended to Greece. Greece made an additional early repayment in June. Since repayments began in 2020, Greece has repaid a total of EUR 986.9 million to Austria, leaving an outstanding balance of EUR 570.3 million.

According to the report, Ireland remains capable of meeting its public debt obligations, while Portugal currently faces no short-term repayment risks. At the end of the second quarter, Austria’s principal liabilities under the European Financial Stability Facility (EFSF) totaled approximately EUR 9.0 billion. Including interest and counter-guarantees, the Federal Government’s total liabilities amounted to approximately EUR 10.4 billion.

Overall, the report concludes that the former programme countries remain capable of meeting their financial obligations. Spain will no longer be subject to monitoring; Greece is reducing its outstanding liabilities through repayments; Ireland remains able to service its public debt; and Portugal faces no immediate repayment risks. Austria’s liabilities, however, remain substantial, totalling approximately EUR 10.4 billion.

ESM and EFSF in the second quarter of 2026’, 57/BA and 58/BA