European Money Market Industry Shutting Down As Goldman Closes MM Fund, Says In “Unchartered Territory”

Friday, July 6, 2012
By Paul Martin

by Tyler Durden
ZeroHedge.com
07/06/2012

Update: BlackRock to restrict subscriptions into 2 Euro money funds

We were the first to bring news that overnight JPMorgan has halted investment in its European money market funds following the ECB’s decision to cut the deposit rate to 0%. Now, it is Goldman’s turn:

GOLDMAN HALTS INVESTMENTS IN EURO GOV MONEY FUND AFTER ECB CUT
GOLDMAN SAYS MARKET CONDITIONS WILL DETERMINE WHEN FUND REOPENS
GOLDMAN DECISION AFFECTS EURO GOVERNMENT LIQUID RESERVES FUND
And finally the conclusion, which is rather obvious:

GOLDMAN FUND MEMO: EUROPEAN MARKET IN `UNCHARTERED TERRITORY’ (Er, sic?)

The Rest…HERE

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