Here Is Who Just Got Their A$$ Saved By The Huge Euro Bailout

Guess who will pay for this bailout? That’s right. You will pay for it all.

See also:

Federal Reserve Opens Line Of Credit To Europe (AP)

Stephen Pope of Cantor Fitzgerald on ECB buying government bonds: ‘This is total, undiluted quantitative easing.’ (Forbes)

ECB Resorts to ‘Nuclear Option,’ Intervenes in Bond Market to Fight Euro Crisis (Bloomberg)


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So Europe announced its gigantic bailout last night, consisting of a fund worth nearly $1 trillion, alongside ECB quantitative easing.

Stocks are going nuts. Dow futures are up nearly 400 points.

But the real winning market is the CAC-40, the French index. It’s up 9%. That’s because French banks were among the most exposed to Greece, and now they just got their butts saved.


French banks represent over 25% of claims. That’s why the CAC-40 is up 9%.

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Banks: Swiss banks represent over 20% of claims

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German banks represent close to 15% of claims. Germany’s market is rallying big.

german-banks-represent-close-to-15-of-claims-germanys-market-is-rallying-big

Insurance: Fortis has significant exposure to Greece, Portugal, and Italy

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Morgan Stanley: 39% of Fortis’ tangible book value is exposed in Greece, 25% in Portugal, and 69% in Italy.

Joe Weisenthal and Gregory White | May. 10, 2010, 8:00 AM

More here: The Business Insider

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