SocGen: Spanish And Italian Banks Face A 12-Figure Problem If Greece Exits The Euro

“Societe Generale published a comprehensive report this morning on the contagion effects of a Greek exit from the euro currency to the rest of the eurozone.

One of the most sobering sets of figures: massive funding gaps in the Italian and Spanish banking systems that “would likely open up” unless the ECB were able to manage the exit process adequately.

Here are the details provided by the Soc Gen strategists: ”

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