From Megan McArdle's post [3] about the difficulty of leaving the eurozone, here's a country-by-country list of bank assets as a percentage of GDP:

  • Luxembourg: 2,461%
  • Ireland: 872%
  • Switzerland: 723%
  • Denmark: 477%
  • Iceland: 458%
  • Netherlands: 432%
  • United Kingdom: 389%
  • Belgium: 380%
  • Sweden: 340%
  • France: 338%
  • Austria: 299%
  • Spain: 251%
  • Germany: 246%
  • Finland: 205%
  • Australia: 205%
  • Portugal: 188%
  • Canada: 157%
  • Italy: 151%
  • Greece: 141%

(For comparison, total banking assets in the U.S. are equal to approximately 82 percent of GDP.) Hat tip to Tyler Cowen [4] for the post title.

We published Gabriel Stein's How To Leave EMU [5] yesterday.