Germany prepares banks for a default of Greece
Against growing concern concerning a possible default of the Greek government under the obligations Germany in the near future can refuse support of Greece, reports Bloomberg.
on Friday it became known that the government of Germany is engaged in working out of the emergency plan of support of national bank sector on a case of a default of Greece. The prepared plan provides indemnification to banks of losses from investments into state bonds of the Greek government which can make to 50 % of cost of debt papers. “ such feeling that Germany prepares for a default “ — the group economist across Europe Royal Bank of Scotland Jacque Kajlu has declared to agency Bloomberg.
Oils to fire were added by the unexpected message on resignation of the group economist of ETSB Jurgena Shtarka from the post on Friday on September, 9th. As marks Dzhulian Kellou from Barclays Capital, “ Stark`s resignation can be considered by the financial markets as the certificate of growing disappointment of Germany in euro “.
According to the data of Bank of international payments (BIS), by the end of March Deutsche Banks were the largest holders of bonds of the Greek government for a total sum 14,1 mlrd dollars Behind them the French banks with the Greek bonds for the sum 13,4 mlrd dollars
the German legislators who have planned on the end of September voting of granting of the second package of the help of Greece followed, have strengthened criticism of the Greek government after the international mission in Athenes has postponed the report on progress in the country. “ there can be no doubts “ that Greece should satisfy a condition of reception of the financial help, the Minister of Finance of Germany Wolfgang Shojble in Marseilles has declared.
According to poll Emnid, 53 % of Germans oppose the further granting of the help of Greece. At the same time the financial expert of parliamentary fraction of parties HDS correcting in Germany/ HSS Klaus Peter Flosbah has noticed that parliamentary discussions are not aimed at a conclusion of Greece from an euro zone. As the head of the European centre of the International political economy in Bruxelles Fredrik Ericson, " marks; Germany prepares for the worst, crisis in an eurozone will be much more difficult for all its participants “.
In turn representatives of the French government and financial sector declare that the French banks have no problems with liquidity and can resist in case of any crisis shocks in Greece. “ without dependence from what will be the Greek scenario and what measures it will be necessary to accept, the French banks have means to smooth their consequences “ — The chairman of Bank of France Christian Nuaje has declared today.