The euro and the European Economic and Monetary Union are facing an increasingly challenging period in their evolution. The dynamic situation, influenced by economics and politics, is evolving and will continue to evolve over the coming months and years.
As a firm, we have been monitoring the situation closely and advising our clients on contingency planning. Given the continuing uncertainty, we think now would be a prudent moment for our clients to take stock, ensure they are apprised of the relevant facts and, if they have not already done so, undertake analysis of their organisation to ensure that they have implemented an appropriate approach to contingency planning.
To assist with such analysis this briefing note outlines the current status of the Eurozone predicament, details some of the legal risk issues that may be considered as part of any contingency planning and summarises some ways in which institutions have been seeking to insulate themselves from any potential fallout.