Tag: last-minute

Experts predicted a Black Monday for French banks. And so it has been. The four major banks Gallic recorded an important drop in the bag at half-time: BNP Paribas lost 13.2%; Credit Agricole 9.5% and Societe Generale 10.3%, among others. These losses are in addition to what has been a grim year. A fact: only Societe Generale has lost since January a 60%. The cause must be sought, according to French experts, in the increasingly more than likely bankruptcy Greek and its possible and fearsome effect dominated in the countries of the euro zone debt crisis. This weakens much to French banks that have money invested in public debt in those countries. According to Le Journal Du Dimanche, the French banking treasures almost EUR 50 billion billeted on sovereign debt, the majority in Italy, but also in Greece, Portugal and Spain. Source of the news:: the big French banks falls due to its exposure to the debt of Greece