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The executive team, conceived around a year ago at a time of mounting public anger over painful austerity measures enforced by Greece's international lenders, examines doomsday scenarios such as a return to a nationwide barter economy, an Internet blackout, a bank run and a freeze on supplies.
They are the kind of events that would send shockwaves throughout the world and Vivartia's executives are not alone in trying to prepare for the worst.
Such contingency planning may sound extreme in the light of recent European Central Bank pledges to roll out extra monetary firepower to help keep the euro intact, but company treasurers and cash managers are showing little sign of relaxing when it comes to the euro's future.
"There is always more you can do," said Vivartia Treasurer Marianna Polykrati, on the sidelines of a conference in Monaco.
MONACO |
(Reuters) - Every 15 days, top executives at Greek food company Vivartia
gather to gauge how well-prepared they are in the event that Greece succumbs to its debts and crashes out of the euro zone.The executive team, conceived around a year ago at a time of mounting public anger over painful austerity measures enforced by Greece's international lenders, examines doomsday scenarios such as a return to a nationwide barter economy, an Internet blackout, a bank run and a freeze on supplies.
They are the kind of events that would send shockwaves throughout the world and Vivartia's executives are not alone in trying to prepare for the worst.
Such contingency planning may sound extreme in the light of recent European Central Bank pledges to roll out extra monetary firepower to help keep the euro intact, but company treasurers and cash managers are showing little sign of relaxing when it comes to the euro's future.
"There is always more you can do," said Vivartia Treasurer Marianna Polykrati, on the sidelines of a conference in Monaco.
