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Irelandâs Debt to Foreign Banks Is Still Unknown
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Ireland owes $139 billion to German banks and $132 billion to British banks according to the Bank for International Settlements in Basel, Switzerland. German officials said in Berlin that Deutsche Bank was especially exposed to Ireland. But Deutsche Bank does not say that, it insists the money at risk is $400 million euros, calculated after the use of derivatives to hedge risk. Total gross exposure is not revealed by Deutsche Bank. This makes investors more nervous and promotes the spread of contagion to Greece and Portugal.
True extent of exposure of foreign banks to Ireland still unknown.
11/23/2010
Grouped Articles
Irelandâs Debt to Foreign Banks Is Still Unknown
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How Greece's and Ireland's debt crisis affects Germany, France, Portugal and Spain.
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German banks have large holdings of Greek bonds, and much larger holdings of bonds from the crisis affected countries of Greece, Portugal, Spain and Ireland.
Grouped Articles
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