Countries most exposed to Greek debt
Here are the countries with the most to lose if Greece defaulted.
The countries that report data to the Bank for International Settlements (BIS) are:
In Europe: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom.
Rest of the World: Australia, Canada, Chile, India, Japan, United States, Chinese Taipei, Singapore.
| Country | Total lending exposure to Greece (millions) | Total Government debt exposure to Greece (millions) |
|---|---|---|
| Total of 24 countries | 145,783 | 54,196 |
| European banks | 136,317 | 52,258 |
| Non-European banks | 9,466 | 1,938 |
| France | 56,740 | 14,960 |
| Germany | 33,974 | 22,651 |
| Italy | 4,085 | 2,345 |
| Japan | 1,631 | 432 |
| Spain | 974 | 540 |
| UK | 14,060 | 3,408 |
| US | 7,318 | 1,505 |
Source: BIS Quarterly Review
Lets see some more details about the transaction between Greece and Netherlands.
Less known facts:
NL-GR trade balance 2004-2006 and 2009-2010: 8.187.372.000 (> 8 bln) in favor of NL.
These 8 billion don’t include activities of ‘local’ huge companies of Dutch interest like Athenian Breweries (Heineken), Elais (Unilever) and many more.
As you will notice in the following table Greece imports from Holland a variety of products in more than 25 categories.
Source: http://bit.ly/j2nwG9
http://www.telegraph.co.uk/finance/economics/8578337/The-countries-most-exposed-to-Greek-debt.htmlhttp://statline.cbs.nl
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The USA has been left holding the baby due to the use of Credit Default Swaps it holds against Greece and things are going to get dirty.
Bottom line is the Greek debt is nothing on it’s own but these Credit Default Swaps means that the potential cost to the US economy may run into the hundreds of billon dollars so get ready to duck and cover.