With my tea this morning I see that Moody’s is threatening 3 of the largest French banks.
The effects of Greek default could be “Significant”. Oui, oui…
- BNP Paribas- 5 Billion
- Société Générale – 2.5 Billion
- Crédit Agricole – 600 Million
All the banks (with the Euro) are heading lower this morning, which isn’t really too much of a surprise.
But consider the affaire Kerviel, he rests accused of losing 4.8 Billion for SocGen, just for perspective. It’s still a great story!
Is the Euro really doomed? Not yet… Calm down talking heads.