Contingency plan in place for Greek exit

Investors were left disappointed after Wednesday's unofficial EU summit meeting when leaders failed to deliver new policy measures to tackle eurozone debt crisis.

26th May, 2012
Vincent Killeen is Senior Manager, Institutional Sales Team, Bank of Ireland Global Markets.

The euro fell to its lowest level this year after confirmation of a conference call between senior eurozone finance ministry officials where they were asked to detail contingency plans in preparation for a Greek exit from the single currency.

The instruction to have plans in place was agreed on Monday during a call with the Eurogroup Working Group (EWG) - experts who work for eurozone finance ministers. Publicly senior EU officials have denied any contingency...

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