EU banks' exposure to Greece below €5bn

Despite widespread fear over a Greek exit from the eurozone, European banks' exposures are limited to tiny bond holdings and €5 billion of outstanding loans, according to a JP Morgan report

French and German banks are the most exposed to Greece potentially leaving the European Union, but overall the exposure of European banks to such a scenario is relatively small, with only about €5 billion of outstanding loans and "immaterial" government bond holdings, according to a research report by JP Morgan published on January 5.

The bank says the impact of the country exiting the EU would be very limited. This follows a scramble by banks to reduce their Greek government bond holdings in