After looking at this stunning Euro Zone Bank Stress Test tool provided by Reuters, I see the danger and the hight level of interconnections that exists among Banks in EU.
The actual scenario (default setting for the tool) shows a need for recapitalization of about 90 billions, if you trigger a 25% haircut on the Italian debt and 25% on the Spanish one and 100% on the Greek one the recapitalization would be worth an astronomic figure of 200 billions, with almost 60 Banks not passing the test.
Here in Italy I heard people talking about opening bank accounts abroad like in Germany or Switzerland, but looking again at the tool I can see that some of the banks that would need huge recap (besides the Italian Unicredit and Spanish La Caixa, Bankia banks) seem to be just German banks (almost top of the list): Commerzbank, Deutsche Bank. So I don't see anymore how it could be considered safe to move money in soem German bank.
I was then thinking to buy defensive stocks, I think these type of stocks are like NESTLE, COCA COLA, PROCTER AND GAMBLE basically food and products found in supermarket (correct me if I'm wrong).
Where can I find a list of defensive stocks, maybe with an history of good dividends?
If you had a bank account in EU, and you would look to secure in some way your savings from a possible EURO fall/Bank run, would you think that buying defensive stock now would be a better strategy rather than moving money abroad in UK or Switzerland?