Business Beat: October 12, 2011 | KBIA

Business Beat: October 12, 2011

We’ll see how the next couple weeks are vital for the European Union, and how this will affect Mid-Missouri. Plus, we’ll dig a little deeper into the ongoing story about Mamtek and how this affects other cities in Missouri.

Hosted by Nick Adams.

A spokesperson for the European Union says the next few weeks are crucial for the future of the EU and the European economy.

Silvia Kofler is head of press and public diplomacy at the delegation of the European Union to the United States.  She says the EU needs to solve the debt crisis in Greece, and set conditions for growth and increased financial stability in the Euro countries.

KBIA’s Ryan Famuliner spoke with Kofler  who was visiting the Missouri Journalism School this week.  She also explains why this matters in Mid-Missouri.

Earlier this year, the town of Moberly agreed to issue $39 million in bonds to Los Angeles-based Mamtek, which was to build an an artificial sweetener plant.

The project fell through, and when the company missed its bond payment, Moberly was stuck with the tab and its bond rating was downgraded from an A minus to a CC.  Republican State Senator Kurt Shaefer tells us, it isn’t that cut and dry on who should have to pay.