‘EFSF’. On 29 October 2011, the German cartoonist Oliver Sebel illustrates the efforts made by French President Nicolas Sarkozy and German Chancellor Angela Merkel to secure an agreement with private banks concerning Greece. Two days earlier, a European summit for the euro area resulted in a series of measures to resolve the crisis, including a 50 % reduction on Greek debt with private creditors and the strengthening of the European Financial Stability Facility, increasing its effective capacity to €1 000 billion. One of the mechanisms provided involves creating one or more special funds to attract external private or public investors, such as emerging countries. From left to right, the main European leaders support the Franco-German initiative to access the private banks’ safe: Greek Prime Minister Georgios Papandreou, armed with a drill, is standing alongside Eurogroup chief Jean-Claude Juncker, who is pushing two gas canisters, while José Manuel Barroso, President of the European Commission, is holding a blowtorch.