European Banks Unprepared for Greek Exit From Euro - Yahoo! Finance

European Banks Unprepared for Greek Exit From EuroBy Elena Logutenkova, Liam Vaughan and Gavin Finch | Bloomberg – 1 hour 27 minutes ago

Europe’s banks, sitting on $1.19

trillion of debt to Spain, Portugal, Italy and Ireland, are

facing a wave of losses if Greece abandons the euro.

While lenders have increased capital buffers, written down

Greek bonds and used central-bank loans to help refinance units

in southern Europe, they remain vulnerable to the contagion that

might follow a withdrawal, investors say. Even with more than

two years of preparation, banks still are at risk of deposit

flight and rising defaults in other indebted euro nations.

via European Banks Unprepared for Greek Exit From Euro – Yahoo! Finance.