These are the European banks to seek out and to avoid in the event of a severe credit crisis
The Wall Street Journal points out that the likelihood of a hard Greek default increased this morning following the Greek government's announcement that it's missed its budget target and the Greek deficit will be 8.5% instead of 7.6% of GDP this year.
This being the case, now may be the time to position yourself at a bank which is relatively robust in terms of short term liquidity. Helpfully, therefore, analysts at Espirito Santo have produced a chart showing which banks should be able to withstand another meltdown and which banks shouldn't.
Credit Suisse looks like a good bet. SocGen and BNP Paribas don't.
(SCROLL DOWN TO SEE THE CHART!!)
Source: Espirito Santo
