Tuesday, September 11, 2012
Wednesday, September 5, 2012
US companies conduct fire drills in case Greece exits euro
Even as Greece desperately tries to avoid defaulting on its debt,
American companies are preparing for what was once unthinkable: that
Greece could soon be forced to leave the euro zone. Bank of America has looked into filling trucks with cash
and sending them over to Greece in case no money is available.
JPMorgan Chase, though, is taking no chances. It has already created new accounts for a handful of American giants. Stocks around the world have rallied this summer on hopes that European
leaders will solve the Continent’s debt problems, but the quickening
tempo of preparations by big business for a potential Greek exit this
summer suggests that investors may be unduly optimistic.
JPMorgan Chase, though, is taking no chances. It has already created new accounts for a handful of American giants. Stocks around the world have rallied this summer on hopes that European
leaders will solve the Continent’s debt problems, but the quickening
tempo of preparations by big business for a potential Greek exit this
summer suggests that investors may be unduly optimistic.
Subscribe to:
Posts (Atom)