Eurogroup to discuss “Plan B” for Greek default

The Eurogroup of euro zone finance ministers meeting on Saturday should discuss how to implement a “Plan B” to protect their economies and banks from a Greek debt default, a senior euro zone government official said on Friday.

Asked about the prospects for a last-minute cash-for-reforms deal with Athens, the official told Reuters: “Tomorrow should be as much about Plan B. This is where we are now. It was very, very bad yesterday.”

He said the ministers would need to be prepared to deal with capital controls being imposed on Greek banks and to ensure banks outside Greece were not disrupted by events in Athens: “We need to get ready to act and look at stability in the banking system, including banks with big exposure to Greece.”

Reuters

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