Great points. The next domino to get this going will be Deutsche bank. A cursory glance at what we know shows almost $460 billion in commercial and consumer loans split almost 50/50 and $360 billion in trading and derivatives liabilities that we know of vs. $269 billion in cash & reserves plus their credit loss provisions is $1.2 billion, shareholder's equity is $66 billion. German (and by extension EU) industry is not exactly humming right now either. No wonder the market is worried. Let's see where it opens on Monday. Also, DB has long had too cozy a relationship with Russian money and Moscow would be delighted if it can add fuel to the fire through its proxies. I wonder what portion of their deposits are related to Chinese companies.