Eurozone banks have a large exposure to Greek debt

04/29/2010 | Economist (free content), The

Much of Greece's recently downgraded sovereign debt is held by European banks, with eurozone exposure at slightly more than $100 billion, according to The Economist. German and French banks account for 71% of the total. Banks in the eurozone also own about $42 billion in debt issued by Portugal. "Little wonder that investors are taking flight," The Economist notes.

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Economist (free content), The

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