As at end-June 2011, German banks’ exposure to all Greek debtors – by this I mean the public sector, the financial sector, corporates and households – totalled just under € billion, while German insurers’ outstanding claims on Greece totalled around € billion (Chart 2).
Balance sheet exposure to all borrowers from the two other Troika programme countries – Ireland and Portugal – stands at € billion for German banks and a little over € billion for German insurance companies. Exposure to borrowers in the major euro-area countries Italy and Spain is larger.