BOE Deputy Governor Says Greece Contagion Risk Low

Sir Jon Cunliffe, the deputy governor of the Bank of England, has said Greece is in a “very dangerous situation”, but says actions have been taken in the UK to prevent contagion.

Sir Jon told the BBC the UK banking system was now stronger, while banks had cut their exposure to Greece.

He added that the possibility of Greece leaving the eurozone “could not be excluded”.
“We have to prepare for the worst,” he said.

On Tuesday, the Bank’s Governor Mark Carney said the UK’s direct exposure to Greece was minimal.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza