Mayor of German town hit by Greensill losses won't seek re-election
(Reuters) --- The mayor of Nordenham, one of the German towns hardest hit by losses on funds with the failed Greensill Bank, said on Wednesday that he would not run for re-election as he takes political responsibility for the investments.
German towns and cities had parked around 500 million euros ($611.40 million) of their savings with Greensill Bank, which collapsed earlier this year as part of financier Lex Greensill's insolvent Greensill Capital.