“…In this context, an important reason and justification for providing financial support to Greece in May 2010 was precisely the "fear" of contagion (see, for instance, Constâncio, 2012), not only because there was a sudden loss of confidence among investors, who turned their attention to the macroeconomic and fiscal imbalances within EMU countries which had largely been ignored until then (see Beirne and Fratzscher, 2013), but also because several European Union banks had a particularly high exposure to Greece (see Gómez-Puig and Sosvilla-Rivero, 2013). …”