(London Times) Crisis in Greece could lead to second Lehman-style shock

Richard McGuire, a bond strategist at Rabobank in London, said there was a risk of a “domino effect” through the financial system reminiscent of the aftermath of Lehman if the crisis was mishandled.

He said: “The implications of a Greek default are nightmarishly complicated and would affect Britain through a number of channels.

“It is only when Greece defaults and the rug is pulled from under this complex web of cross-border relationships that we see where the risk really lies.”

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Credit Markets, Currency Markets, Economy, England / UK, Euro, Europe, European Central Bank, Greece, The Banking System/Sector