This "lucky" refers to the exposure of the UK to Greece, Spain and Portugal...
Analysts at Credit Suisse calculated that UK banks had £25bn of exposure to Greece and Portugal but £75bn to Spain, where the collapse in the property market has already forced banks such as Barclays to admit to bad debt problems and left Royal Bank of Scotland facing questions about its exposure."Lloyds' exposure to the three regions is likely to be negligible, we estimate that Barclays has £40bn exposure (predominantly loans in Spain and Portugal, excluding daily positions in Barclays Capital), and RBS has around £30bn–£35bn (again predominantly Spain, although we estimate £3bn to £4bn in Portugal and Greece as well)," the Credit Suisse analysts said.
Guardian
At the same time, here is which EUROland (UK is POUNDland!) bails out Greece with how much - for now:
And this is the same over time:
So one could read this as last respite for ES and IT, Spain and Italy; but the draws might be split 8:3 between the countries and the IMF. Anyway, will this help such candidates like ES and IT? They are down with a bad cold and this will give them the final cough?!
I am sure, there will be more to share and split for the UK in the near future!
Carpe diem!
