Investment Week and our sister title InvestmentEurope provide ongoing updates of the latest industry thoughts around today's crisis talks on the future of the euro.
16.36: The Brussels summit draft statement shows the EFSF rescue fund would be allowed, for the first time, to help states earlier with precautionary loans, to recapitalise banks and to intervene in the secondary bond market. "To improve the effectiveness of the EFSF and address contagion, we agree to increase the flexibility of the EFSF," according to the draft. It listed three key steps, all of which Germany had previously blocked. 16.31: Gary Jenkins, head of fixed income at Evolution Securities, said: If they are correct, the proposals "all look pretty sensible at first glance". Long...
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