Sunday, April 24, 2011 0 comments ++[ CLICK TO COMMENT ]++

Sunday Spectacle CXIX

Bank Exposure to PIIGS Revisited

(source: "Foreign bank claims on PIIGS and core Europe," The Globe & Mail. Published Thursday, Apr. 21, 2011 2:02PM EDT)


As I have suggested in the past, the PIIGS are a problem but they are over-rated (except in the case that Spain or Italy falls—unlikely IMO). In any case, here is a re-hash of the foreign bank exposure to the PIIGS. I covered it in the past but it's always good re-visit this issue. As I have pointed out in the past, countries like Germany and Netherlands aren't necessarily being charitable when they allow ECB to funnel money into the troubled countries; part of the reason is actually because most of their banks are heavily exposed to the PIIGS.

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