Banks To Keep Credit Lines Open To Greece

Top bankers in Germany agreed to support the bailout of Greece by keeping credit lines open to Greek banks. Further they agreed to not cut exposure to Greek KfW bonds. This move from Germany is expected to be followed up by other European countries asking their banks to keep their exposure to the Greece for the duration of IMF/EU loan.

French banks have the highest exposure to Greece followed by Germany. Deutsche Bank’s (NYSE: DB) CEO has been coordinating efforts to involve private finance sector players in Germany to support the bail out.