Sunday, May 27, 2012

Lloyd’s ‘plans for euro collapse’ | The Top News | Only Top News of the Day

Lloyd’s ‘plans for euro collapse’ | The Top News | Only Top News of the Day: "Richard Ward told the Telegraph: “I’m quite worried about Europe.”
The insurance market Lloyd’s of London is preparing contingency plans for the possibility of the euro collapsing, its chief executive has said.
With Greece facing new elections in June and anti-bailout feelings high, there are fears Athens may be forced to exit the eurozone.
In a Sunday Telegraph interview, Richard Ward said Lloyd’s needs to “prepare for that eventuality”.
He said that Lloyd’s would settle claims using multiple currencies.
Mr Ward is one of the first bosses of a large UK business to admit he is plotting for the end of the euro.
Lloyd’s of London is a market in which syndicates meet brokers and agree to take on particular risks."

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