Greece drags down banks ‘just like Lehman’
Secondary spreads for a swathe of southern European banks widened alarmingly this week as fears grew about their ability to fund through the Greek sovereign debt crisis. It put the brake on senior unsecured issuance right across Europe.
"Today feels scary, it feels like watching Lehman in the weeks before the collapse," said one syndicate banker on Thursday. "There is an eerie silence around Greece has re-awakened fears from a year ago."
This was echoed by another syndicate banker who cited CDS spreads of European sovereigns
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