VIENNA: One of Europe’s top central bankers sought on Tuesday to allay concern that a health check of Europe’s lenders was too soft, while three successful debt auctions suggested fears of sovereign meltdown were easing.
European Central Bank (ECB) governing council member Ewald Nowotny’s defence of bank stress tests came as a German bank lobby said the regional landesbanks would pass, and upbeat comments from officials in France, Greece and elsewhere raised concerns the process may not be tough or transparent enough to restore investor confidence in Europe.
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