Here's Everyone Who Will Get Slammed In A Spanish Collapse

spain woman

Spain was just downgraded to AA+ by Fitch and while that’s a long way from default, it is already putting banks and countries with significant exposure to Spain in the firing line.

We’ve got the details on the countries and banks most exposed to Spain’s sovereign debt, and its banking system. This downgrade may have a significant impact on European banks.

Spain's debt is out of control considering its place in the global growth rankings.

Source: Evolution Securities

Only the UK is in worse shape, when total debt is considered.

Source: Evolution Securities

Private sector debt is a particular concern; it slows growth and may become a government burden.

Source: Evolution Securities

The numbers stack up horribly for a Spanish government that has yet to bailout its financial sector.

Source: Evolution Securities

A significant amount of that worrying debt is in foreign holdings...

Source: Evolution Securities

And banks are at the centre of that contagion risk.

Source: Evolution Securities

Germany has failed to be forward about its debt contagion levels, France not far behind.

Source: Evolution Securities

German bank claims are the outright largest, with France just slightly behind.

Source: Evolution Securities

ING, Barclays, and RBS have the largest reported exposures.

Source: Evolution Securities

Dexia, ING, and Deutsche Bank have the largest threats to their asset valuations.

Source: Evolution Securities

Banks need to start planning for the resulting scenarios of partial default.

Source: Evolution Securities

See how Spain got into this mess with a review of its economic problems.

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