Central banks take action for a possible Greek contagion – TradeTheNews

FXStreet (Barcelona) - The TradeTheNews Team comments on the key developments surrounding Greece, noting that Greece banking units overseas have been asked to exit any Greek sovereign debt.

Key Quotes

“Greece banking units overseas said to have been asked to exit Greek sovereign debt. Central banks in southeastern European countries (in cooperation with the ECB) had given the instructions. The order relates to Greek government bonds and T-bills and also relates to deposits in parent Greek banks and loans to lenders based in Greece. The move by the central banks was aimed at supporting their national banking systems if there was a Greek accident or contagion.”