Bloomberg News

UniCredit’s HVB Plans Emergency Meeting on Greece, Reuters Said

June 12, 2012

HVB Group, UniCredit SpA (UCG)’s German banking unit, may schedule a meeting for June 17, the day of the Greek elections, Reuters reported, citing unit Chief Executive Officer Theodor Weimer.

The lender will decide June 15 whether the board will meet two days later to prepare for the worst case scenario that the opponents of reforms in Greece will win the election, the newswire said.

The meeting should discuss how to organize transactions to avoid being the last bank that still sends euros to the country, Reuters cited Weimer as saying. The likeliness of such a scenario is clearly below 50 percent, Weimer also said, Reuters reported.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.


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