European banks pass stress test
Seven out of 91 banks pass, although some analysts worry the EU test was too easy.
Published On 23 Jul 2010
As investors continue to worry about the strength of Europe’s economy, seven out of 91 banks have failed a stress test, meaning they could collapse if there was another downturn.
The European Union said on Friday that test results confirm the overall resilience of the continent’s banking system.
The real test, however, could come in the weeks ahead as the financial world decides about the results and credibility of the tests.
Tim Friend reports.
Source: Al Jazeera