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Tuesday, May 15, 2012

''Greek exit from the Euro could cost French taxpayers 66.4bn Euros''

From Merco Press

''Eric Dor, head of research at the IESEG School of Management in Lille, said in the report that the departure of the debt-stricken Mediterranean state would result in at least partial losses on its liabilities to the other member states of the 17-nation bloc.

These include bilateral loans, lending from the Euro zone's EFSF bailout fund, Greek debt held by the European Central Bank, and liabilities under the Target2 system used to settle cross-border payments in the euro system, the study said.

France's share, equivalent to just over one-fifth of the overall sum, would total around 66.4 billion Euros, Dor said.''

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