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)


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%.


Banks: Swiss banks represent over 20% of claims


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


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

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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