Total bank losses in Spain, Greece, Ireland and Portugal have totaled around €140B ($191B) so...

|By:, SA News Editor

Total bank losses in Spain, Greece, Ireland and Portugal have totaled around €140B ($191B) so far, or 8% of GDP. If the countries mirror past banking crises, Credit Suisse estimates peripherals face another €350B of costs, or 22% of their GDP. Combined with delevering costs, the crisis' price tag could rise to €1.65T.