French Banks Won’t Be Able To Handle Inevitable Italian Restructuring

Despite the latest attempt by the European Central Bank to kick the proverbial can far down the road, the Eurozone remains under heavy pressure, and France’s AAA credit rating hangs from a thread.  According to research by Nomura, France’s exposure to peripheral Europe tops €680 billion ($887 billion), more than 25% of its GDP, putting its banks at substantial risk in the event of another debt restructuring or an outright default among the PIIGS.

http://www.forbes.com/sites/afontevecchia/2011/12/21/french-banks-wont-be-able-to-handle-inevitable-italian-restructuring/