Friday 16 December 2011

Europe Rescue Fund to Remove Clause on Euro Breakup

(REUTERS) Europe's EFSF temporary rescue fund will remove a provision providing for the break up of the euro from initial drafts of its latest bond prospectus, a source at the fund said on Friday, a move that underlines the growing sensitivity of the issue for EU officials.The Financial Times reported on Thursday that the draft prospectus included explicit warnings to investors that the euro could break apart or even cease to be a "lawful currency" entirely.

A source at the fund told Reuters the clause had been inserted by lawyers drawing up documentation but had not been approved by management and would not feature in the final version.

"The sentence warning about the risk of euro zone break up was in square brackets in the draft and it will be removed," the source said.

1 comments:

There are even a number of grants currently available to support the employer's wage costs in certain industries as an extra incentive.

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