BOE Sees Acute Greek Risks, Finance Stability Threatened

Bank of England Governor Mark Carney said Greece’s escalating crisis is undermining the financial stability outlook and the central bank has worked with European counterparts on contingency plans in case of market turmoil.

In its regular assessment of the U.K. financial system, the BOE said while banks are in a stronger position now, “challenges remain.” Risks related to Greece are “particularly acute” after the collapse of bailout talks last week, it said in the semi-annual Financial Stability Report, published in London on Wednesday.