Bundesbank official warns Greek banks are on the brink of crisis

The situation in Greece is critical but the direct danger to European banks is relatively small, a senior official at Germany’s Bundesbank told a newspaper on Monday.

“The Greek government would be well advised to act quickly – for the Greek banks, it is five minutes to midnight,” Andreas Dombret, an executive board member of the German central bank, told Germany’s Bild newspaper.

“The situation in Greece is very critical and bank customers see that naturally,” he said, adding: “The direct dangers for European banks are relatively small.”

Reuters, The Guardian

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