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Banks plan for loss of eurozone member

Posted By admin On 30 juillet 2010 @ 11 h 13 min In LCD2007 | Comments Disabled

By Anousha Sakoui in London [1]

Published: July 28 2010 23:08 | Last updated: July 28 2010 23:08 [1]

Banks have started early-stage planning to deal with the potential fallout on the derivatives and bond markets of a European country being forced to leave the euro. [1]

After having received queries by some banks about the impact of such an event, the body representing the swaps and derivatives industry last week contacted some of its members to form a group to consider what they may need to do if a eurozone state is ejected. [1]

While those close to the process believe the likelihood of such an event is remote, the sovereign debt crisis of recent months has led banks and other firms to start questioning what impact it could have. [1]

The moves are at an early stage and it is still unclear who would be part of the group. [1]

One person close to the process said that because of the sensitivity of the issue only a small number of members, about 12, predominantly banks but also investors, had been approached. (…) [1]

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URL to article: http://www.aporismes.com/2010/07/30/banks-plan-for-loss-of-eurozone-member/

URLs in this post:

[1] By Anousha Sakoui in London: http://www.ft.com/cms/s/0/8f7c5f94-9a6b-11df-87fd-00144feab49a.html

[2] La crise financière européenne expliquée à Paulo: http://www.aporismes.com/2010/12/23/la-crise-financiere-europeenne-expliquee-a-paulo/

[3] Une République irréprochable: http://www.aporismes.com/2010/12/22/une-republique-irreprochable/

[4] Europe : ce que cachent les récentes décisions: http://www.aporismes.com/2010/12/17/europe-ce-que-cachent-les-recentes-decisions/

[5] La neige recouvre tout, y compris la faillite de l’Europe: http://www.aporismes.com/2010/12/14/la-neige-recouvre-tout-y-compris-la-faillite-de-leurope/

[6] C’est le printemps…: http://www.aporismes.com/2010/10/08/cest-le-printemps/

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