Some serious concern expressed over the current health of the European Banking systems, and particularly the German and French banks exposure to sovereign debt. However, the real problem is the survival of the Euro - if the Euro collapses - Greece and Spain would likely default - with repercussions to debt holders. Why all the negativity? Taxes. Austerity and financial reform - these will change the banking landscape.
BIS Quarterly Review June 2010 R_qt1006
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