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Greece's EUR Exit Will Cost Euro-zone Countries €276 Billion

From efxnews.com

Euro-zone countries will absorb up to €77 Billion in direct losses if Greece leaves the euro-zone and defaults on its remaining debt, German Magazine Wirtschafts Woche reported on Saturday. According to the report, Germany alone will absorb up to €77 billion in losses; this amount has been calculated by adding Germany's losses from its bilateral aid loans with Greece to its share of loses to the European Central Bank (ECB), the International Monetary Fund (IMF), and the EFSF rescue fund. As of the end of 2011, Greece total debt amounted for €370 billion; but, in case of its national bankruptcy, a small part of it ... (full story)

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