Banks are preparing for “Grexit”

“Psssst!” whispers Süddeutsche Zeitung: Want to know the worst-kept secret of the big US and European banks? They’re preparing for the worst: the exit of Greece from the eurozone and even the break-up of the eurozone itself, writes the newspaper. “An army of management consultants and lawyers” have been working for weeks on “the infinite number of things to do” in response to bankruptcy in Athens. Tasks range from how to manage riots in the crisis countries, where the safety of bank employees will be an issue, through to ensuring the stability of the hot lines for advising investors and preparing computer systems to reckon in drachmas.

Full article: Banks are preparing for “Grexit” (Presseurop)