Stock markets around the world have plunged over the past two days due to fears that Greece may leave the Eurozone as well as falling crude oil prices. However, Asian markets began to stabilize on Wednesday.
Financial Supervisory Commission Chairman William Tseng said there probably will not be another drop in global markets unless Greece pulls out of the Eurozone. Tseng said he is keeping an eye on Greece.
"Europe’s central bank is dealing with it, but the situation is not clear," said Tseng. "Of course we are keeping an eye on this. But Taiwan’s banks, securities and insurance are not exposed to too much risk, perhaps only a few million US dollars."
Debt-ridden Greece will hold parliamentary elections this month. With the anti-austerity opposition leading in the polls, some fear the election could result in Greece's departure from the Eurozone.
Tseng said that Taiwan's stock market is stabilizing, and will reflect the profitability of listed companies and economic fundamentals.
Meanwhile, Finance Minister Chang Sheng-ford said many European nations, including Germany, are persuading Greece to stay in the Eurozone, so he believes the probability of Greece leaving the currency union is slim.