Only eight out of 91 banks failed the so-called stress tests, a massive data-crunching exercise designed to expose risk and restore confidence in the overall health of the European financial system. But another 16 passed narrowly, and will be asked to take steps to “promptly” increase their resilience, such as by raising more capital, regulators said.Europe is fast approaching the cliff. Only the dissolution of the Euro can save them. They shouldn't prop it up. It;s only throwing good money after bad. And it would mean less liberty for all Europeans - especially in Greece and Ireland and Spain and Italy and Portugal. For starters.
... Analysts have been skeptical that the tests this year were rigorous enough to clear up doubts about the European banking system — and to encourage institutions to begin lending to each other again rather than relying on the European Central Bank for funds.
The E.B.A. did not examine what would happen if Greece defaults, for example, which critics saw as a major flaw in the tests.
Friday, July 15, 2011
1/4 of Europe's banks are in bad shape
Posted by Reliapundit at 12:43 PM