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Crédit Agricole's Greek tragedy


Crédit Agricole's Greek tragedy


The Greek crisis came back to haunt French bank Crédit Agricole on Monday in Paris. Exposure to Greek debt is not the main problem for investors, although it does not help.

The real worry for the markets is the performance of the Crèdit’s subsidiary in Greece, Emporiki Bank which left a billion euro hole in Crédit’s accounts last year.

Crédit Agricole’s share price dropped to a near-record low of 3.56 euros by the close of trading on Monday.

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