Partners from the London sovereign advisory practice of New York-headquartered law firm White & Case – one of the leading practices, with global counterparts Allen & Overy and Cleary Gottlieb, advising the Greek government on its financial bail-out package -- maintain all options are being covered by Europe’s banks.
‘The eurozone banking system is more prepared now than it used to be,’ said partner Gavin McLean at a recent City briefing session. ‘It has been considering this issue for some time now.’
 His partner, Michael Doran continued: ‘Greece's future may depend on whether there is the same appetite to save Greece as there is to save the eurozone.’ 
According to reports in The Lawyer newspaper when the latest tranche of bail-out funding was agreed in February, the A&O team was being lead by partners Yannis Manuelides, Katrina Buckley, Matthew Hartley and Philip Wood. Cleary’s team is led by New York-based corporate partner Lee Buchheit, while Greek law firm Koutalidis advised the creditors on Greek law issues.