Central banks 'ready to intervene in Greek crisis'

15 June 2012

Central banks from around the world are ready to join forces to help stabilize markets should Greece make plans to leave the eurozone in the coming weeks and months, officials have pledged.

On Sunday (17 June), Greek citizens will head to the polls to vote in a general election and this may mark a watershed moment in the history of the single currency with the people indicating their desire to become independent of the economic bloc.

And while an official from the US has told Reuters the election will not prove "definitive" either way, policymakers from central institutions in major economic powers are prepared to intervene and issue credit in order to prevent fiscal turmoil.

For instance, a senior aide from the G20 who has been involved in ongoing talks between leading nations told the news source the banks are "preparing for coordinated action to provide liquidity".

The issues in the eurozone will be top of the agenda for G20 leaders at their summit in Mexico next week.

By Claire Archer

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