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the tests were not strict enough...
Seven of the 91 European banks that underwent stress tests have failed the healthchecks, the Committee of European Banking Supervisors (CEBS) has said.
They include five Spanish banks - Diada, Espiga, Banca Civica, Unnim and Cajasur. The other two were Germany's Hypo Real Estate and Greece's ATEbank.
The tests assessed banks' ability to survive future economic shocks.
- By Gus Leonisky at 24 Jul 2010 - 8:51am
- Gus Leonisky's blog
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it's only money...
"What seems to have occurred is a compromise amongst European banking regulators, with many questioning if the bar had been set way too low in testing the European banking sector," said Mark O'Sullivan of foreign exchange firm Currencies Direct.
"It seems the tests may have raised more questions than they have answered and in the coming weeks, it will be the interbank lending markets that will have the real answer as to whether real confidence has returned to the European banks."
But Vitor Constancio from the European Central Bank said the tests were very extensive.
http://www.bbc.co.uk/news/business-10732597