In addition, the Eurogroup controls the European Financial Stability Facility (EFSF) and, its successor, the European Stability Mechanism (ESM). Established in June 2010, the EFSF was a private company — a special purpose vehicle — created as a temporary crisis resolution mechanism. Established in September 2012, the ESM is an international organisation created as a permanent rescue mechanism with the same mission as the EFSF: to “safeguard” financial stability in Europe by providing bailout loans to the eurozone countries. The ESM and EFSF now share the same staff and offices.