France’s Banks To Maintain Exposure In Greece To 2020: FinMin

Author: Market News International | Category: News

PARIS (MNI) – French banks and insurance companies intend to
participate in the new Greek bailout program by covering their entire
exposure to Greece maturing through 2020 — around E15 billion, Finance
Minister Francois Baroin said Thursday.

After a meeting with leading banks and insurers and with Bank of
France Governor Christian Noyer and other regulators, Baroin welcomed in
a press release the commitment of financial institutions to participate
in the second bailout program according to the terms announced July 21.

Last year French banks had agreed to maintain their exposure to the
Greek government and the economy over the course of the first bailout
plan, the minister reminded.

This “confirms the determination of the French financial sector to
participate fully in the mobilization aimed at guaranteeing the
financial stability of the Eurozone,” he said.

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