Friday, Apr 23, 2010
A couple of months old, still it show how the contagion will hit the UK
Independent: UK banks exposed to struggling European economies
According to the Basel-based Bank for International Settlements (BIS), UK banks had a total £76.2 billion exposure to the Spanish economy in corporate and government lending at the end of September last year.
They also lent £7.8 billion to Greece and £15.6 billion to Portugal, according to the BIS figures.
"This story also has the added equation of Portugal, Spain and even Ireland going the same way. The feeling is that if Greece goes then others will follow in the domino effect."
Posted by mark @ 10:46 AM (567 views) Add Comment
2 Comments
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1. saintjay said...
but didn't banks flog most of this on?
2. mark said...
since feb 2010? possible but doubtful