Singapore and Hong Kong will be the hardest hit should euro area banks retreat.
Moody’s assessed the degree of impact on the overall economy of a country by retreats of euro area banks and they found out that the economies of Singapore and Hong Kong will be affected the most. “An escalation of the euro area crisis could quicken the retreat of European banks from the region,” said Jean-Francois Tremblay, Associate Managing Director at Moody’s Investor Service.
Graph from Moody’s: Assessing the Exposure of Asia Pacific Banks to the Risk of Deterioration in the Euro Area
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