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Looming “Grexit” creating short-term concern for HNWIs in Asia

A photo taken on february 15, 2012 shows a person holding a 1 euro coin (R) and Greek 1 drachma coin in front of a Greek national flag. AFP PHOTO/PHILIPPE HUGUEN

With the Eurozone finance ministers rejecting proposals for a five-day bailout extension for Greece and Alex Tsipras’ last minute referendum, the likelihood of Greece leaving the eurozone, the “Grexit”, is high. As a result, private banks in Asia are seeing a flurry of activity from high net worth clients holding European equities. “The Greek debt crisis and its potential exit…

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