BGN Entrepreneur

Banks increased their exposure to struggling eurozone nations to $2600 billion in the fist quarter of the year, in spite of the worries over sovereign debt in the area.
According to figures to be published by the Bank for International Settlements, foreign bank loans and other commitments to Portugal, the Republic of Ireland, Greece and Spain, which are the so-called Pigs, rose by 4.3% or $109bn, in January-March.
UK banks sharply increased their activities in Ireland, Portugal and Spain. British institutions are particularly heavily exposed to Ireland, with $222bn of loans and other commitments, which was up by $12bn in the quarter and more than lenders of any other nationality tracked by the BIS.
On the other hand, Ireland is struggling with the continued aftershocks of its banking and property collapse.

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