Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet | WHAT REALLY HAPPENED

Russia Contagion Spreads To European Banks : French SocGen, Austrian Raiffeisen Plummet

We recently noted the rise of counterparty risks in the financial system due to oil prices dropping (and leveraged derivative exposures) but as the Russia situation has deteriorated so dramatically this week, a renewed focus on bank exposures has sent stocks reeling (and credit risk soaring) among many European (and US) banks.

Webmaster's Commentary: 

Only because those American and European banks were already in a fragile state ... but let's blame Russia for the mess, shall we?

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