European shares were called to open lower on Friday, ending another dismal week for equities, as investors learned that at least half of the euro zone’s member states are making contingency plans for a Greek exit from the single currenceny.
The UK’s FTSE was called to open 13 points lower at 5337, Germany’s DAX was expected to open 27 points lower at 6289 and France’s CAC was seen opening 6 points lower at 3032.
At least half of euro zone governments as well as banks and large companies are making contingency plans in case Greece decides to leave the single currency area, even though the preferred option is still for Athens to keep the euro.
Italian Prime Minister Mario Monti speculated that Greece will remain in the euro zone, although he said it isn’t a certainty. Speaking on an Italian talk show, he added that it’s in Germany's interest to ensure no member state leaves the euro.
Elsewhere, Italian Deputy Economy Minister Vittorio Grilli said his country is ready for such a Greek exit, if Greek voters on June 17 give power to parties that reject reforms agreed to with the European Union and International Monetary Fund.Page 1 of 4 | Next Page