Who will suffer most amid the subprime fallout

--Europe --Half of the $1.2 trillion in subprime mortgage-backedsecurities sold in the last two years were bought by investors inEurope and Asia, according to Brian Bethune, director of financialeconomics for Globe Insight Inc. in Waltham, Massachusetts. Thebonds are held by hedge funds, pension funds, banks and privateinvestors. --Another proof: ECB pumped $350 bil, three times more than US, to their banks --Most banks in Europe sell CDS, long riks --APCP from overseas increased at a faster pace in 2005 and 2006 than US did