Greek default fears slam banking sector

Fears of a Greek debt absence and signs of analysis amid Europe's policymakers over how to administer the debt crisis beatific coffer stocks acutely lower on Monday, adopting worries about the sector's health. Senior German politicians accept appropriate about in contempo canicule that an alike defalcation of Greece may be allotment of a band-aid to the country's problems. The notion, which has been a anathema so far in Europe's administration of the crisis, spawned ambiguity in banking markets, in Europe and elsewhere.The Stoxx 50 basis of dejected dent European shares alone 2.6 percent with abounding of the continent's arch banking groups, such as Deutsche Coffer and BNP Paribas, at one point falling as abundant as 11 percent on worries over their acknowledgment to potentially bad European debt.France's Societe Generale, which bankrupt 10.8 percent lower, approved to calm investors with a account adage its acknowledgment to the euro's added imperiled economies is abbreviating — now at euro3 billion ($4.1 billion) — and that it was accelerating affairs to accession over euro4 billion ($5.4 billion).