Τhe impact of a Greek default on American banks is negligible, JP Morgan Chase CEO Jamie Dimon told CNBC on Thursday, and while there are chances of a bad outcome in Europe, he is not concerned about unpleasant surprises in the region.
“The direct impact of a Greek default is almost zero,” Dimon said.
“The effect it has on the global economy will obviously filter down to the American banks too,” he added, but although “there may be a surprise somewhere”, he expressed little concern over such a development.
“There’s a teeny chance of a catastrophic outcome, which is why the muddle-through is the only good strategy. There is no other good strategy,” Dimon said. Not wanting to diminish Europe’s problems, Dimon said Greece, Portugal and Ireland were not the main issue.
(source: CNBC, capital)