Guinness: Greek woes will not trigger another banking crisis

Guinness founder and CIO Tim Guinness has said the problems in Greece will not spark a fresh banking crisis even if the beleaguered nation is forced to exit the euro.

The manager (pictured) said investors should be overweight Europe as the chances of major contagion are slim as regulators and alike have learnt from past mistakes. "I think, if you look under the bonnet, the alarmists are wrong," he said. "Greece has now got government debt back under control. If they have a bust-up with the EU and leave the euro, it is not going to trigger a banking crisis - you do not get them so soon after we have just had one." He does not rule out the possibility of another banking crisis, however, but said it will be in the distant future. "Regulators are...