1 French Banks Dangerously Exposed to Public Debt

[GoldBroker]

A very interesting review by Éric Dor, Chief Economist at IESEG, summarizing the exposure of French and European banks to French debt. French banks are naturally in first place, with very high levels of exposure. In the event of a debt crisis, i.e., if the French government were unable to finance itself, the value of these assets would plummet, instantly putting these banking establishments at risk, if not bankrupt. As the economist notes: “It is absolutely necessary to prevent any depreciation in the value of public bonds issued by France, to avoid losses for the banks and thus protect the deposits of the population, both in France and abroad. Control public debt for the collective interest!” An amount of less than 5 billion euros may be considered manageable, but some European banks would still have a lot to lose, such as Italy's Intesa Sanpaolo, which has almost 10 billion euros of French debt on its balance sheet. The BPCE group (Banques Populaires, C...

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