Greek banks a critical issue, says RBA

A "critical issue in the near term was not so much the obligations of the Greek Government but rather the funding of Greek banks," the Reserve Bank of Australia said in the minutes of its February monetary policy meeting.

Relating events of two weeks ago the RBA said there had been "minimal spillover from developments in Greece to other markets" from a "planned restructure of the country's debt, most of which was owed to official sector institutions."