BNP Joins Credit Agricole To Seek Escape From Euro-Exit Risk

“France’s biggest banks are rushing to cut the more than 140 billion euros ($171 billion) they provide their operations in Europe’s troubled economies, seeking to protect themselves against a possible breakup of the euro.

In a retreat, French banks, especially BNP Paribas SA (BNP) and Credit Agricole SA — the largest by assets — are trying to make their businesses in Italy, Spain, Greece, Portugal and Ireland less reliant on funds from the parent company.”

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