Risk of euro breakup flagged in draft EFSF documents - reports

European leaders have repeatedly insisted a breakup of the single currency is not a possibility. However, clauses included in the draft prospectus created by the European Financial Stability Facility (EFSF) for certain securities warn of this danger. Proposals for Euro Sovereign Credit-Linked Certificates - derivatives which may be used to stretch the resources of the EFSF - are understood to include warnings over the risk of the euro folding, according to the FT. The prospectus for the derivatives highlights the "risks arising from a Reference Sovereign ceasing to use the euro as its...