Many banks will fail stress test

  • Business
  • Wednesday, 29 Jun 2011

FRANKFURT: Up to one in six European banks is set to fail an EU-wide financial health check, according to eurozone sources close to the stress-testing, as officials scramble to set up backstops for those at risk.

The result, which the European Central Bank and others hope will persuade investors that the EU is finally coming clean about the extent of its banks' problems, will pressure reluctant states to prop up lenders if they cannot raise money themselves. Reuters

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