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FRONT PAGE  |  12/9/2016
FRIDAY, NOV 18, 2011  |  1 comments
U.S. Banks Face Contagion Risk From Europe Debt

U.S. banks face a “serious risk” that their creditworthiness will deteriorate if Europe’s debt crisis deepens and spreads beyond the five most-troubled nations, Fitch Ratings said.

“Unless the euro zone debt crisis is resolved in a timely and orderly manner, the broad credit outlook for the U.S. banking industry could worsen,” the New York-based rating company said yesterday in a statement. Even as U.S. banks have “manageable” exposure to stressed European markets, “further contagion poses a serious risk,” Fitch said, without explaining what it meant by contagion.

The “exposures” of U.S. lenders to major European banks and the stressed nations of Greece, Ireland, Italy, Portugal and Spain, known as the GIIPS, are smaller than those to some of the continent’s larger countries, Fitch said. ...


CLICK HERE to Read Entire Article
www.bloomberg.com

Response to economic crisis?
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News Item11/18/11 3:37 PM
Lh  Find all comments by Lh
"Unless the euro zone debt crisis is resolved in a timely and orderly manner, the broad credit outlook for the U.S. banking industry could worsen"

The present crisis is GLOBAL haven't you noticed?

Emigration is still going on obviously but now its debt crisis instead of people. Mammon is not a happy god today his wrath is spreading.

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