- French banks can absorb losses connected with their Greek exposure
- European banks fairly healthy but must bolster capital ratios
Most agree that Europe could absorb Greece if it were to blow. But there is also almost universal agreement that if Greece blows, Portgal and Ireland will blow as well. And if all three blow, Spain and Italy and Belgium would be drawn into the mix…
It ain’t about Greece and it never was. Keep that in mind…
