• EFSF can buy bonds on secondary market if EU country has sustainable debt, respects commitments to its deficit reduction and has a sustainable current account
• Also must have no bank solvency problems and must make a request with agreement from the ECB and other EU Fin Mins
• Amounts available would be equal to lending capacity of the bail out fund remaining
• Would then have ability to sell them back on the market, or use for repos with commercial banks