The total exposure of French banks to Greek debt is larger than the total exposure of German banks to Greek debt, true, but the problem for Germany as a whole i

The total exposure of French banks to Greek debt is larger than the total exposure of German banks to Greek debt, true, but the problem for Germany as a whole is that a specific group of German banks, namely the Landesbanken that fund a large part of German industry, have comparatively large proportions of their holdings in Greek debt. So the Germans don't have to worry about bailing out Commerzbank or Deutsche bank the way the French are worried about BNP or Credit Agricole, but they do have to worry about what happens if the Bayerische Landesbank can no longer fund Bavarian factories.