Banks prepare plans for Greek eurozone exit

A new Greek currency? Plausible. Grexit? As oft here discussed, Greece is too important for that.

 

Banks and other financial institutions in Europe are stress-testing their internal systems and dusting off two-year-old contingency plans for the possibility Greece could leave the region’s monetary union after a key election later this month.

Among the firms running through drills are Citigroup Inc., Goldman Sachs Group Inc.,  and brokerage ICAP PLC, according to people familiar with the matter. Continue reading