Saturday, April 23, 2011

Barber-ians at the Gate

The Greeks gave us the word 'barbarian' (they thought foreigners all made the same, loutish 'bar-bar' sound). Citi has used a pun on the word - 'barber-ians' - as the title of its analysis of which banks will lose the most in the event of a Greek 'haircut'.

In absolute terms, French and British banks will lose the most, but in relative terms it will be Belgian and German banks (specifically the Postbank in the latter). The Belgian government had better be prepared. Oh wait, they don't have a government in Belgium...


Citi report is here.

Can't wait for their Irish report: 'Hibernians at the Gate' :)

ht Zero Hedge

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