BoE's Cohrs Says U.K. Banks Are Prepared For Greek Exit: Report

U.K. banks are strong enough to withstand a Greek exit from the euro area, Bank of England's Michael Cohrs said in an interview with the Guardian newspaper.

Nonetheless, banks should continue boosting financial strength amid escalating crisis, member of the Financial Policy Committee said.

"British banks are ready for Greece," Cohrs said. "They have thought about their direct exposures to Greece and they have marked them to appropriate levels, their liquidity is strong and they have enough capital to withstand shocks from Greece."

Further, he said the Eurozone crisis is unfolding "hour by hour, day by day at this point." This will continue until June 17 when Greeks go to the polls, he added.

by RTTNews Staff Writer

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