News 8 European banks fail stress test, need $4.3b

8 European banks fail stress test, need $4.3b

Posted by Author on in News 49
8 European banks fail stress test, need $4.3b

LONDON - EIGHT European banks are not strong enough to withstand a prolonged recession and need to raise 2.5 billion euros (S$4.3 billion) in capital, an industry health check aimed at reviving investor confidence showed on Friday. The 'stress test' of 90 banks in 21 countries showed five banks in Spain, two in Greece and one in Austria failed the test.

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