What banks will be burned by Greece ?

GreeceflagAt end-Q3 foreigners held EUR216bn of Greek government debt (72.3% of the total market, 90.2% of GDP), having doubled their position since end-04. Given recent downgrades and another round of revisions to budget data from previous years, a sharp slowdown or even reversal of inflows from foreigners into the local debt market has become an increasing risk.”

Read the full story on FT Alphaville’s blog, by Tracy Alloway

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