The situation in Greece is worrisome to both U.S. and European banks, which have already endured tempestuous economic difficulties, and now it seems the total risk involved in a bankruptcy deemed certain topples 183 billion dollars.
According to a June report released by the Bank for International Settlements – BIS, French banks topple the list as one of Greek's highest creditors. As of the end of 2010, the total risk for France's private and public sector invested in our neighbors is at 65 billion dollars. French bank Credit Agricole's 30.6 billion dollars, BNP's seven and Societe Generale's 8.3 billion dollar credit in Greece may not find its way home.
U.S. banks have a total risk in the country of 41 billion dollars. Turkish banks on the other hand, unlike American and European banks, appear to be in a better position. As of the third quarter of 2010, the total risk of Turkish banks private and public sector was at 460 million dollars, however this figure dropped to under 79 million dollars in the final quarter.