Following the end of the financial assistance programme to Greece last week, George Osborne addressed the House of Commons on the latest development of the financial crisis in Greece and how this could affect the UK. He touched upon some of the main issues of concern, such as the possible consequences of Greece’s exit from the Eurozone; the impact on the stability of the financial system in the UK and across Europe; and finally the effect on British residents and tourists in Greece. He assured the House that he is working to deliver economic security at home.
You can read the full statement here: Chancellor’s statement on Greece, 29 June 2015
The Departments of Business, Innovation and Skills have also issued guidance for businesses, after Greece introduced temporary capital control measures to limit the movement of currency out of the country. Businesses trading with Greece, or relying on suppliers there, may be directly affected.
For more information and support, read Greece has introduced capital control: Guidance for business, 29 June 2015
The Law Society and the ’legal aspects of the Greek crisis’
On 16 July, to engage with our members on the most recent developments in Greece, we hosted a breakfast roundtable with senior government officials and our City members. We discussed the issues concerning EU law, the banking sector, capital markets and corporate finance, offshore businesses and the shipping industry. If you are interested in reading the briefing please send us an email.