Consequences of Debt Restructuring What Would a Greek Haircut Mean for Germany?

It's the worst-case scenario: Greece no longer able to get loans, with creditors having to wave goodbye to a chunk of their money. But what would it mean for Germany? Would the state have to bail out the banks again, and would private investors also suffer badly? SPIEGEL ONLINE takes a look at the likely consequences.
The Frankfurt skyline: What would a Greek haircut mean for Germany?

The Frankfurt skyline: What would a Greek haircut mean for Germany?

Foto: dapd

German Banks' Exposure to Greek Debt

Institute Total debt (in € mil.)
Commerzbank 2,900
Deutsche Bank (including Postbank) 1,601
DZ Bank 1,002
Landesbank Baden-Württemberg 1,389
Landesbank Berlin 364
HSH Nordbank 295
NordLB 197
BayernLB 121
WestLB 97
Landesbank Hessen-Thüringen 78
FMS Wertmanagement (bad bank for Hypo Real Estate) 7,400
Erste Abwicklungsanstalt (bad bank for WestLB) 1,400
Kreditanstalt für Wiederaufbau (KfW) 8,400
Source: Company figures, some values are estimates

German Banks' Exposure to Greek Debt

Institute Total debt (in € mil.)
Commerzbank 2,900
Deutsche Bank (including Postbank) 1,601
DZ Bank 1,002
Landesbank Baden-Württemberg 1,389
Landesbank Berlin 364
HSH Nordbank 295
NordLB 197
BayernLB 121
WestLB 97
Landesbank Hessen-Thüringen 78
FMS Wertmanagement (bad bank for Hypo Real Estate) 7,400
Erste Abwicklungsanstalt (bad bank for WestLB) 1,400
Kreditanstalt für Wiederaufbau (KfW) 8,400
Source: Company figures, some values are estimates