Effects of potential Greek default for banks not clear -ECB's Constancio

May 30, 2015 10:06 AM

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SITGES, Spain May 30 The effects of a potential Greek default on the country's banks cannot yet be predicted, ECB vice president Vitor Constancio said on Saturday, stressing that he did not foresee a default.

If cash-strapped Greece missed a debt payment, the impact on Greek lenders, which are heavily exposed to the country's sovereign debt, would have to be assessed, Constancio said at a conference in Sitges, northeastern Spain.

Also read: Greek cenbank chief expects return to capital markets in mid-2018

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