Euro has an early wobble on news that overseas bank subsidiaries have been told to exit Greek debt exposure

Central banks in southeastern European countries, in cooperation with ECB's SSM, have told banking subsidiaries of Greek lenders in their countries to exit all exposure to Greek state bonds and treasury bills,

Kathimerini newspaper reports today, without saying how it got the information. Link here but I can't see the story on first sight

Headlines hitting the wires

EURUSD down to 1.0753 in a rush

  • exposure exit order also includes deposits in parent Greek banks, loans to Greece-based lenders
  • move to protect national banking systems in event of a "Greek accident" and possible contagion if Greek talks with EU don't lead to a positive result
  • order made by central banks of Albania,Bulgaria,Cyprus Macedonia, Romania ,Serbia and Turkey

Greek banks have a large market share in Bulgaria, Cyprus, Fyrom and Romania

Euro falling again after a brief respite as the news circulates

EURUSD 1.0746 EURGBP 0.7197 EURJPY 127.78

UPDATE: Thanks to Tehol. Link now here

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