Who Has Exposure to a Growing Greek Default Scenario?

We’ve told you what could go wrong, and who could get slammed, if and when Greece (NYSE:NBG) defaults. But there are specific companies, governments, and institutions exposed to a default that will have to handle the losses if it comes to pass, according to Barclays (NYSE:BCS) research.It is interesting to note that the world’s participation in the Greek bailout series has left countries and international institutions the most exposed. Banks (NYSE:XLF), while having significant exposures, are not holding all the cards this time. 

There are, however, some significant bank names here. Notably Deutsche Bank (NYSE:DB) (#25), ING (NYSE:ING) (#27), and HSBC (NYSE:HBC) (#35) hang outside the top table.

Barclays (NYSE:BCS) conclusion is that, because so much of Greek debt is owned by the public sector, and voluntary rollover may be possible, and successful.

#20 Marfin

#20 Marfin

Image: Marfin Investment Group

Marfin Investment Group is a Greek investment company. Its shares are publicly traded.

Total bonds and bills: €2.3 billion

Percent of Greek debt: Less than 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#19 Societe Generale

#19 Societe Generale

Total bonds and bills: €2.9 billion

Percent of Greek debt: Less than 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#18 Commerzbank (CRZBY)

#18 Commerzbank

Image: Wikimedia

Total bonds and bills: €2.9 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#17 Generali

#17 Generali

Image: MIB.edu

Generali is Italy’s largest insurance company.

Total bonds and bills: €3.0 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#16 Hellenic Postbank

#16 Hellenic Postbank

Hellenic Postbank is a Greek savings bank.

Total bonds and bills: €3.1 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#15 Dexia

#15 Dexia

Image: Wikimedia

Dexia is a diversified Belgian financial services company.

Total bonds and bills: €3.5 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#14 AlphaBank

#14 AlphaBank

Image: Wikimedia Commons

AlphaBank is Greece’s second biggest bank.

Total bonds and bills: €3.7 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#13 ATE Bank

#13 ATE Bank

ATE Bank is a Greek commercial bank.

Total bonds and bills: €4.6 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#12 BNP Paribas (NYSE:BNP)

#12 BNP Paribas

Image: Wikimedia

Total bonds and bills: €5.0 billion

Percent of Greek debt: Approximately 2%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#11 Bank of Greece legacy loans

#11 Bank of Greece legacy loans

Image: Wikimedia Commons

Total bonds and bills: €6.0 billion

Percent of Greek debt: 1%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#10 FMS (German bailed out banks Depfa and Hypo Real Estate)

#10 FMS (German bailed out banks Depfa and Hypo Real Estate)

Image: AP

The FMS is the remnants of two bailed out German lenders.

Total bonds and bills: €6.3 billion

Percent of Greek debt: 2%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#9 Eurobank EFG

#9 Eurobank EFG

Image: Wikimedia Commons

Eurobank EFG is a Greek bank, ranking the country’s third largest.

Total bonds and bills: €9.0 billion

Percent of Greek debt: 2%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#8 Piraeus Bank

#8 Piraeus Bank

Piraeus is another Greek bank with a presence in Eastern Europe.

Total bonds and bills: €9.4 billion

Percent of Greek debt: 3%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#7 European central banks

#7 European central banks

Image: Wikimedia Commons

Total bonds and bills: €13.1 billion

Percent of Greek debt: Approximately 3%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#6 The National Bank of Greece (NYSE:NBG)

#6 The National Bank of Greece

Total bonds and bills: €13.7 billion

Percent of Greek debt: Approximately 3%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#5 The IMF

#5 The IMF

Image: robert via flickr

Total bonds and bills: €15 billion

Percent of Greek debt: 5%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#4 Funds from the rest of the world’s governments

#4 Funds from the rest of the world's governments

Total bonds and bills: €25 billion

Percent of Greek debt: 7%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#3 Greek public sector funding

#3 Greek public sector funding

Total bonds and bills: €30 billion

Percent of Greek debt: 8%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#2 European Union Loans

#2 European Union Loans

Image: AP

Total bonds and bills: €38 billion

Percent of Greek debt: 10%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

#1 Eurosystem SMP

#1 Eurosystem SMP

Image: World Economic Forum at Flickr

The Eurosystem SMP (securities market program) is the bond buying program conducted by the European Central Bank and its member banks.

Total bonds and bills: €49 billion

Percent of Greek debt: 13%

Source: Barclays

Note: Percentages and totals are approximations and may not match current reality.

Check out more cool stories at Business Insider >>

Improve Your 2011 Financial Health: Join the winning team of stock pickers with Wall St. Cheat Sheet’s acclaimed premium newsletter >>