50% Write off for Banks - Greece

Telegraph Live: Reports that EU banks are expected to go from a 21% write off of Geek debts to 50%. Thus French Banks will needs Government help as not to lead to French banks defaulting, also as the Greek debt goes beyond France other Governments will have to make 100% sure that their banks don’t hold bad Greek debt. Also one can presume that these debts are insured with the US banks, so might the Obama Administration need a 2nd banking bailout. As the article notes the lack of details is worrying the markets, thus the biggest threat to the UK economy ever, as stated by the Governor of the Bank of England.