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Legal Update

Summary of Government Interventions in Financial Markets - Greece

September 2009
Mayer Brown Legal Update
The UK model for governmental intervention announced in October 2008 became the European standard, with national variations to take account of differing systems. Although Greek banks have little exposure to “toxic” products and have not suffered large write-downs like some of their European peers, their rapid expansion in neighbouring Balkan markets has contributed to a liquidity squeeze.
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