Bloomberg News

Lloyds Chairman Bischoff Says Euro’s Prospects ‘Very Concerning’

May 17, 2012

Lloyds Banking Group Plc (LLOY) Chairman Win Bischoff said the prospects for the euro region are “very concerning” after Greek politicians failed to form a government.

“Whichever way it is going to go, clarity sooner rather than later is always best,” Bischoff said on the sidelines of the bank’s annual meeting in London today, referring to whether Greece will exit the euro. “It is a very uncertain time and this doesn’t help.”

Greece will hold another election next month following failed talks on forming a government, after the May 6 vote called into question the country’s ability to impose the austerity measures agreed with international creditors in return for aid. The risk of Greece leaving the euro by the end of 2013 has risen as high as 75 percent, Citigroup Inc. said May 7.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net.

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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