Discussions between the European Union (EU) and bank bondholders regarding haircuts on Greek debt remained “deadlocked” ahead of tonight’s EU summit, according to Bloomberg.
Highlights from the report included:
The Greek deadlock darkens the summit’s prospects, since deals on recapitalizing banks and bolstering the 440 billion- euro ($608 billion) rescue fund hinge on steering debt-laden Greece back toward financial health.
While policy makers and bondholders were converging on a 50 percent writedown of Greek debt, clashes over the structure of the transaction will limit the summit to issuing a mandate for further talks, the official said in Brussels today on condition of anonymity.
While markets clamor for a signal that the euro area will devote 1 trillion euros or more to combating the crisis, the EU won’t be able to produce a number until late November, the EU official said.
Colossus Minerals Appoints New VP, Investor Relations
- Ms. Wilkinson has over 20 years experience in the mining industry in both investor relations and other management roles.
- Prior to joining Colossus, she served as Vice President, Investor Relations of Breakwater Resources Ltd., a position she held from October 2005.
- Ann Candelario, who joined Colossus in September 2010, has resigned her position as Vice-President, Investor Relations of the Company, effective immediately, to pursue other opportunities.
