Arab Today, arab today german central bank warns of greek risk exposure
Last Updated : GMT 10:24:43
Arab Today, arab today
Arab Today, arab today

German central bank warns of Greek risk exposure

Arab Today, arab today

Arab Today, arab today German central bank warns of Greek risk exposure

Berlin - Arabstoday

Bundesbank President Jens Weidmann has warned Europe\'s central banks not to increase their exposure to Greece because of the high level of political uncertainty there ahead of next month\'s elections. In an interview with German Sunday newspaper Frankfurter Allgemeine Sonntagszeitung he said that \"Greek people and their elected lawmakers\" will have to decide if they want to abandon the euro currency. Pending those political decisions, central banks \"must ensure that the risk on our balance sheets remains manageable,\" Weidmann was quoted as saying. If Greece were to abandon the euro, the European Central Bank, national central banks and taxpayers would face high losses that analysts say could add up to some C200 billion ($255 billion). \"Indeed, I would not consider it to be right for the euro system to further increase its level of risk for Greece,\" Weidmann said. Greece is set to hold elections on June 17 to end a political deadlock after a previous vote on May 6 produced a hung Parliament, with the country\'s future in the 17-nation Eurozone potentially at stake. Discussing the prospect of Athens leaving the Eurozone had long been a taboo for European policy makers, but the issue rose to the forefront of policy debates after parties rejecting the international bailout agreements scored high results in this month\'s Greek legislative elections. Edgy markets and analysts fear a victory next month by parties opposed to those austerity and reform commitments could spur bailout creditors to stop the flow of rescue loans, which would eventually force Greece to abandon the currency union, plunging the country into yet deeper recession and sending shockwaves through the global financial system. Weidmann, who is also an influential member of the ECB\'s rate-setting council, warned Greece would suffer the most if the nation were to reject the bailout agreements and leave the euro. \"Such a decision would certainly hit Greece the hardest,\" he was quoted as saying. Weidmann reiterated that Greece cannot expect further assistance from its partners if it fails to live up to the bailout agreements struck between previous governments and the so-called troika of creditors -- the ECB, the EU Commission and the International Monetary Fund. Greece has been surviving since May 2010 on an initial C110 billion package of rescue loans, and it was granted a second bailout of about C130 billion this year to keep the country afloat for the coming years. \"It\'s of fundamental importance that there can be no help without Greece itself making the agreed-upon efforts,\" Weidmann was quoted as saying, adding that this was also important in light of similar agreements with other countries and the stability of the euro as a whole.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german central bank warns of greek risk exposure Arab Today, arab today german central bank warns of greek risk exposure

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german central bank warns of greek risk exposure Arab Today, arab today german central bank warns of greek risk exposure

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 05:27 2017 Monday ,23 October

Travel plea for conjoined twins

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 08:06 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday