Friday, December 16, 2011

ESPF's Draft Includes A Warning That Euro May Cease to Exist

Brazilian newspaper O Estado de Sao Paulo reports that the European Financial Stability Facility has a draft prospectus whcoh warsn that the Euro may collapse. It includes explicit warnings that the euro could break apart or even cease to be a “lawful currency”.

The ESPF is still debating whether the “risk factors” should be included in the final version of the document.

The Financial Times also reports on the matter statign that the draft appears to be almost complete ahead of the expected launch of the instruments in January, "But the details of the risks of euro exit remain blank, as the EFSF debates whether to include them. Lawyers are debating the merits of including warnings about the euro in corporate prospectuses, although several London bond lawyers and bankers said they had yet to see them added".

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