Italian, Spanish and German Banks Savaged in Key Test of Europe’s Banks
- Italian, Spanish and German Banks Savaged in Key Test of Europe’s Banks
by NICK GUTTERIDGE, http://www.express.co.uk/
LEADING banks in Italy, Spain, Germany and Ireland are laden down with alarming levels of debt according to a stress test of European lenders.
The major financial pillars of the EU all delivered dire results in a European Union stress test assessing how banks on the continent would deal with a global downturn.
The Bank of England moved swiftly tonight to reassure global markets that UK lenders are in a strong position to weather any global financial turbulence. The European Banking Authority (EBA) which coordinated the test of 51 lenders from across the bloc said the results showed there was still more work to do to put banks on a firmer footing.
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