Who Has The Most To Lose From The Greek Debt Crisis

Countries’ exposure via bailouts, ECB loans to Greece and via their banking systems. Photograph: Open Europe

The Guardian: Greece's lenders: who has most to lose?

Exposure to Greek loans is weighing heavily on minds in the eurozone, in Spain, Slovenia and Malta perhaps more than Germany

As eurozone leaders meet in another effort to broker a deal between Greece and its creditors, those who have lent to the near-bankrupt country are asking if they will ever get their money back.

Greece owes €323bn (£228bn) to a combination of official and private creditors, equivalent to more than 175% of its GDP. Much of that debt mountain was built up by Greece receiving bailout packages, funded in part by its eurozone neighbours.

Germany is far and away the most exposed country within the single currency bloc. However, when adjusting exposure for the sizes of a country’s respective economy, Germany appears better placed than most neighbours to absorb losses.

Eurozone governments loaned Greece €52.9bn under the first bailout in 2010 and a further €141.8bn under a bailout in 2012.

WNU Editor: I have been hearing reports that the saving deposit boxes in Greek banks are now being opened .... and if cash is present .... removed and replaced with an IOU promissory note from the bank. There is nothing on the wire services yet .... but with the banks closed to the public, and safety deposit boxes still off limits for their owners .... Greeks cannot tap cash in safe deposit boxes under capital controls (Reuters) .... who knows what is happening inside.

Update: There are some winners in this Greek tragedy .... The Biggest Winner From The Greek Tragedy (Zero Hedge).