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British banks, and financial institutions also have very limited direct exposure to Greek debt.
Interest rates on government borrowing tend to fall and the value of sterling increase as investors seek 'safe haven' from turmoil in the eurozone.
But failure would have risked crashing stock markets, financial contagion and an economic slowdown in euro states - all of which would have been very damaging to the UK.
David Cameron has welcomed the agreement as 'a chance for stability'.Pictured is a poster outside an Athens bank depicts German Finance Minister Wolfgang Schaeuble as a Nazi Among the measures demanded that would directly affect citizens are lifting a ban on Sunday trading for shops, opening up ownership of pharmacies and opening up closed professions such as ferry transport.'I think the terms agreed for the bailout are going to make life very hard for all of us.But I agree with the idea of Sunday openings, it's a measure that will allow those who work all week to have more time to buy our products, which can only help the economy,' said Melina Petropoulou, 41, the manager of a women's clothes shop.Anger: Greeks have reacted to the news of today's bailout deal with fury, saying the tough reforms agreed to by Prime Minister Alexis Tsipras condemned the country to 'misery, humiliation and slavery''The Germans could not do it with tanks so now they try it with banks Trying to STEAL Greek assets Br ITS MUST vote to get out,' opined a tweet from Britain by @Allan Skerratt, who said he was a non-partisan retired soldier and ex-teacher.While it will not lose control of the assets immediately, in the long term they will be a way of Greece to eventually pay off the bailout loan, with €25 billion will be used to fund recapitalisation of Greek banks and the other €25 billion set aside to pay off Greece's massive debts.Gianna Georgakopoulou, a 43-year-old office manager in a jewellery store, broadly welcomed the bailout deal, but said: 'We may have no choice but to open every Sunday, but that's not going to mean we'll be happy about it.