Richard Ward said Lloyd's of London could have to take writedowns on its £58.9bn investment portfolio if the eurozone collapses.
Lloyd's Of London Preparing For Euro Collapse -- The Telegraph
The chief executive of the multi-billion pound Lloyd's of London has publicly admitted that the world's leading insurance market is prepared for a collapse in the single currency and has reduced its exposure "as much as possible" to the crisis-ridden continent.
Richard Ward said the London market had put in place a contingency plan to switch euro underwriting to multi-currency settlement if Greece abandoned the euro.
In an interview with The Sunday Telegraph he also revealed that Lloyd's could have to take writedowns on its £58.9bn investment portfolio if the eurozone collapses.
Read more ....
More News On Institutions And Governments Getting Ready For The Euro Collapse
Euro debt crisis: should investors prepare for a Greek exit? -- The Telegraph
Europe May Be Unprepared for Greece Exit: Official -- CNBC
Switzerland draws up eurozone collapse action
Read more ....
More News On Institutions And Governments Getting Ready For The Euro Collapse
Euro debt crisis: should investors prepare for a Greek exit? -- The Telegraph
Europe May Be Unprepared for Greece Exit: Official -- CNBC
Switzerland draws up eurozone collapse action plan -- AFP
EuroCrisis: Run on Banks Expected in Europe -- Live Trading News
€1 trillion for Greek exit 'on low side' -- NZHerald
Crisis, what crisis? Have another Ouzo, Greece is staying in the eurozone -- Rick Dewsbury, Daily Mail
For the eurozone, the worst is yet to come -- Liam Halligan, The Telegraph