UK Chief Financial Officers Positive Despite Grexit Risks

For guidance on managing the business risks associated with a possible Greek secession from the euro and for a list of expert contacts please visit:

http://www2.deloitte.com/uk/en/pages/risk/articles/greek-financial-crisis.html

A resounding No vote in the Greek referendum will intensify its financial crisis and takes the country closer to leaving the euro. Pressure on banks from withdrawals will mount - holding savings in cash is a free form of insurance against the risk that Greece leaves the single currency.

Unless the European Central Bank (ECB) switches tack and steps up the level of support the Greek banks will run out of money. The financial crisis will be toxic for Greek growth. History demonstrates that shortages of money or liquidity destroy confidence and kill activity.