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European Banks Loaned $254 Billion to Four Countries

14 June 2010 11:29 (UTC +04:00)

Baku â€“ APA-Economics. European banks had $254 billion of loans to the governments of Greece, Ireland, Portugal and Spain at the end of 2009, according to figures from the Bank for International Settlements, Bloomberg reported.

That represents only 16 percent of the banksâ€™ overall exposure to the four countries of $1.58 trillion, which includes loans to individuals and companies, the Basel, Switzerland-based BIS said in its latest quarterly review.

Banks in the region had $737 billion at stake in Spain, $402 billion in Ireland, $244 billion in Portugal and $206 billion in Greece, the BIS said.