Monday, July 6, 2015

Euro Dominos

There's no need for argument
There's no argument at all
--Van Morrison

As ZeroHedge reports, EU exposure to Greece is complex--amounting to both direct exposure assumed by banks and indirect exposure that has been laid off to various EU members via ECB programs. Estimated country exposure as a % of GDP looks like this:


Appropriately portrayed as the Greek domino tipping a progressively larger cascade.

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