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Dimon: Impact of Greece Default on U.S. Banks Almost Zero


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Later in the article, he says "The real issue is Spain and Italy."


I think that he is just pointing out that Greece is small enough and baked into Europe's economic cake enough that it isn't going to cause any major ripples. Most investors in Greece have already taken some write-down.


The real problem (Italy, Spain default which seems very likely to be the beginning of a much wider domino effect if it happens) would definitely not be "Almost Zero" and I think that's exactly what he's saying in a roundabout way...




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