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German banks reduce their exposure in Greece According to Financial Times Deutschland German banks have reduced their exposure in Greece significantly in recent months. Citing Bundesbank statistics the paper claims German financial institutions held 10 bn at the beginning of this year down from 16 bn in April 2010. German banks reduced their exposure by 4bn, 2bn of Hypo Real Estate are no longer accounted for in these statistics because they are now in a specifically designated bad bank. The paper points out that the banks reduced their exposure despite an informal standstill agreement in which they pledged to keep their exposure constant. According to those statistics the French banks are still the most exposed on Greece with government bonds worth 11.2 bn.
According to Financial Times Deutschland German banks have reduced their exposure in Greece significantly in recent months. Citing Bundesbank statistics the paper claims German financial institutions held 10 bn at the beginning of this year down from 16 bn in April 2010. German banks reduced their exposure by 4bn, 2bn of Hypo Real Estate are no longer accounted for in these statistics because they are now in a specifically designated bad bank. The paper points out that the banks reduced their exposure despite an informal standstill agreement in which they pledged to keep their exposure constant. According to those statistics the French banks are still the most exposed on Greece with government bonds worth 11.2 bn.
Meanwhile, the boss of the Bundesbank spoke out against Schäuble's idea (in an op-ed which echoes the diary title in its main thesis):
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