REMINDER: Here's Who Gets Crushed If Greece Goes Bust

Here's Who Gets Crushed If Greece Goes Bust

1.Japanese banks hold $432 million in Greek debt

2.Spanish banks hold $540 million in Greek debt

3.U.S. banks hold $1.5 billion in Greek debt

4.Italian banks hold $2.35 billion in Greek debt

5.UK banks hold $3.4 billion in Greek debt

6.French banks hold $14.96 billion in Greek debt

7.German banks hold $22.65 billion in Greek debt

8.Greek banks hold $62.8 billion in Greek debt

9.But banks in Europe have been working to cut their exposures

10.Greek banks downgraded by S & P

11.Moody's expected to downgrade Soc Gen, BNP Paribas, and Credit Agricole this week

12.Romania and Bulgaria's banking sectors, and sovereigns, highly exposed to Greek banks

13.Austria banks have significant positions in Eastern Europe

14.The ECB holds a significant amount of Greek debt

15.If a restructuring does occur, the risk trade will be clobbered.

16.Other countries will have a much harder time entering the Euro.

17.ECB: Rate hike cycle may be stalled

18.Macedonia, and Albania will be hit too

19.Think Greece is the big problem?