Soros : EU banks' credit to Emerging Markets

• Just saw an interview of George Soros on CNBC, by Maria Bartiromo.
• Can't find the internet link anywhere. Will post link if I can find it later.
• According to him (citing BIS figures as of Mar11), EU banks' claims on EM = USD 3 trillion; US banks' = USD 750 billion and Japanese banks' = USD 300 billion.
• Thus, potential serious recessionary implications if EU banks were to pull back credit provision to EM due to their own balance sheet retrenchment.