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German banks ready for all Greek options -Bafin head
June 5, 2012 / 8:57 AM / 6 years ago

German banks ready for all Greek options -Bafin head

BONN, June 5 (Reuters) - German banks have limited exposure to Greece and should be able to handle any outcome in the southern European country, German financial watchdog Bafin said on Tuesday.

“I won’t join speculation about Greece’s future financial policy but I am certain that Germany’s banks are now prepared for all possible scenarios,” Bafin president Elke Koenig said in the text of a speech at the watchdog’s annual news conference.

Bafin and the Bundesbank were monitoring the situation in Spain and Portugal very carefully but developments were in no way comparable to Greece, Koenig said.

“The German banking system is relatively robust, even if it cannot fully shield itself from the current environment,” Koenig said. (Reporting by Jonathan Gould)

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