Large French and German banks appear to be the largest creditors to Greece and therefore stand to benefit the most from the 110 billion euros rescue package to Greece, at least indirectly since Greece won't default on its debt.

French financial institutions have the largest exposure in the world to Greek debt, holding about 50 billion euros of Greek debt, both from the private and public sectors.

The European Union has finally stepped up to the plate with a bailout package for member states - after months and months of hemming and hawing - and it only took the potential bottoming out of the euro and fears of another global panic to light a fire. Never mind troubles in Greece since last November, never mind Ireland, or the UK, or Portugal or Spain.

The bailout package agreed by EU finance ministers early this morning will supply countries in the region with up to $560 billion in newly-minted loans and $76 billion available through a current lending program. The IMF will also front up to $321 billion – making a total of $957 billion in loans available to help shore up ailing European economies.