Britain Facing a �43 Billion Hit if the Italian Economy Collapses

'Britain faces losses of nearly �43billion if the Italian economy collapses, according figures compiled by the Bank of England.

The level of exposure was revealed as Eurozone nations met in Brussels amid warnings that the financial contagion is spreading to Europe?s third biggest economy.

British banks and investment houses risk losses of �7.9billion if the Italian government defaults on its debts and another �5.7billion if Italian banks collapse.�Financial firms face losing another �29.2billion should Italian companies fold as the debt crisis spirals.'

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Source: http://www.davidicke.com/latest-headlines-topmenu-82/50867-britain-facing-a-p43-billion-hit-if-the-italian-economy-collapses

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