Tuesday, 5 June 2012

Debt Crisis: Greek Euro exit may cost UK £5bn

"The UK’s overall exposure to a post-euro bail-out – technically a loan which it would hope to get back – would be between €4 billion and €6 billion, Open Europe calculated. Although Greece remains the country most likely to be forced out of the euro, financial markets are also worried about Spain, where a weak banking sector threatens to push the government into full-blown crisis. EU leaders remain split over a plan to create a European “banking union”, using existing funds to back troubled banks."

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