The latest story making headlines this morning is the emergence of the stress results carried out on the European banks. The results of these tests are yet to be disclosed as the global financial markets impatiently await the final results.
The Committee of European Banking Supervisors is expected to publish the results of the tests in 20 European Union countries at 5pm London time.
These tests have been conducted to get a clear picture of how these banks stand today and if they have enough resources, should there be another financial collapse in the future.
According to various media reports, several Spanish banks have failed tests, that include the Spain’s 18 cajas. Slovenia also admitted yesterday that its largest bank, Nova Ljubljanska Banka, would fail the stress tests.
There is great deal of controversy that surrounds the whole issue, some critics have been making some strong comments on the Committee of European Banking Supervisors. One of the hard hitting claims is to call these tests a failure if the Greek banks are able to pass these endurance tests.