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June 14, 2012


It doesn't add up...

He's probably right about that, at least so far as direct exposure goes. Much UK bank lending is to the Greek private sector, and secured e.g. on Greek ships, that can be subjected to Mareva injunctions, and is in any case likely to continue to earn an income to make loan payments. The issue is rather more whether continental banks who are much more exposed will fall over, and whether than provokes a chain of failures.

Andrew Smith

These "Greek ships" are probably owned by offshore corporate entities so I do not think they are "Greek" other than in inspiration.

It is surely no surprise that UK financial institutions can cope with Grexit; so why have Osborne and Cameron been trying to make our flesh creep with their stories of disaster if fiscal integration (ie political union) is not concluded pronto?

Blood Pressure

Stories about these issues continue to abound and when will it all stop? Is there no end to all the talk and gossip of flesh creeping trash? I, for one, will be happy to see the end of these feloow's careers!

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