''European Banks Have $10 Trillion in Claims Against US Rivals''

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"European banks hold as much as $10 trillion in claims against their U.S. counterparts, which reflects how vulnerable the North American financial system is to Europe's debt crisis, Forbes reports, citing Princeton University research.

For two years now, the European Union has managed to prevent countries like Greece and Italy from defaulting, which could send financial shockwaves to the U.S.

The crisis, however, rages on and continues to threaten financial stability worldwide.

European banks have made direct loans to U.S. businesses but also hold U.S. money-market deposits and U.S. mortgage securities."