France and Germany want an effort of their banks .

Crédit Agricole provides short-term refinancing of its subsidiary Emporiki worth some 6 billion euros.Keywords: BNP Paribas, Societe Generale, CREDIT Agricole.

States in the area have asked the financial sector contribute to the rescue of Athens.
Banks are they, once again, aided by the States? The support plan of 110 billion committed by the countries of the euro area and the IMF is, indeed, to avoid the risk of default of Greece. In so doing, he rejects the threat of a restructuring that would have resulted in massive write-downs in the balance sheets of the holders of sovereign debt Greek. In exchange, however, states in the area have asked the financial sector contribute to the rescue of Athens.
The German financial sector, including Allianz, the reinsurer Munich Re or Deutsche Bank, is preparing to subscribe to bonds of public financial institution KfW responsible for carrying out the part of Berlin. German banks have also promised to extend credit lines to their Greek customers. For his part, Economy Minister Christine Lagarde asked the French banks to maintain their commitment for three years. "Bercy asked us to maintain outstanding in the Greek economy, both public and private" recounts there in a large French bank. "Keep the same exposure, this means renewing lines of credit expiring or redeem Greek bonds mature," says one banker. If telephone conversations have taken place in recent days, a long-planned meeting of the High Committee of Place could be tomorrow's opportunity for Christine Lagarde to clarify.
It should not, in fact, that European banks are benefiting from this windfall policy to disengage, which weaken the Greek economy still when the crisis will test the strength of its own banking system. In the wake of the austerity plan adopted by the government, it provides, in effect, failures and a sharp rise in bad debts. Hence the establishment of a stability fund of 15 billion euros to inject capital in National Bank of Greece and EFG Eurobank, Alpha Bank and others. The European Central Bank has also revised its rules to facilitate refinancing.

Black day on the stock market:
Clearly, if the sovereign debt appears temporarily secure the Greek risk remains high. On rumors of a fund contagion sovereign in Spain, the Exchange has imposed Tuesday a new black day for bank stocks. The course of BNP Paribas, Societe Generale, Dexia, Natixis and Credit Agricole have fallen by more than 5% each. Crédit Agricole, which owns 91% of the 5th Greek bank, drew particular attention. The green bank, which amounted to 800 million euros in net liabilities on its sovereign debt Greek, provides short-term refinancing of its subsidiary Emporiki worth some 6 billion euros.
Since the early disappointments in Athens, the French banks are stigmatized because they carry the largest gross exposure according to data from the Bank for International Settlements (BIS): $ 75 billion, ahead of Germany and its 45 billion . Experts argue that these figures mask very contrasting realities. "Individually, the German banks are in a financial situation much more tense than French banks. For their commitments are probably much less well provisioned, "says one specialist markets.