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One In Six Banks Expected To Fail EU-Wide Stress Tests

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Tue, 06/28/2011 - 07:51 | 1408224 qussl3
qussl3's picture

Whats the over under on the ECB raising rates in Jul?

JCT is talking himself into a corner, if he isnt careful he'll blow up Spain all on his own.

Tue, 06/28/2011 - 07:56 | 1408226 oogs66
oogs66's picture

didn't the Irish banks pass the last ones?  :D

Tue, 06/28/2011 - 07:58 | 1408228 Cassandra Syndrome
Cassandra Syndrome's picture

Yep, with flying colours. Some stress test, the treadmill must have been going at 0.05 mph for the stinking rancid institutes.

Tue, 06/28/2011 - 07:56 | 1408227 Cassandra Syndrome
Cassandra Syndrome's picture

In other news 5 out of 6 EU Banks massage their accounts.

Tue, 06/28/2011 - 07:59 | 1408230 hugovanderbubble
hugovanderbubble's picture

VAn Rompuy Please Resign what a miserable guy

Tue, 06/28/2011 - 08:25 | 1408283 TwoShortPlanks
Tue, 06/28/2011 - 08:00 | 1408231 squexx
squexx's picture

I wonder how much of this mess China is willing to bail out?!?

Tue, 06/28/2011 - 08:03 | 1408234 challenger78
challenger78's picture

some banks failing the stress tests is not a big deal, they will just capitalise more. That's the whole purpose of the tests, to identify weaknesses and correct them.

Regarding the rating agencies, it is apparent by now that they are not impartial and EU has different point of view than them compared to voluntary rollover of debt, hence the announcement yesterday of Europe with intention of establishing their own credit rating agency. Problem solved.

All these EU bearish comments are about to get many people burned when Greece passes the austerity plan tomorrow... trade safe.

Tue, 06/28/2011 - 07:58 | 1408235 hugovanderbubble
hugovanderbubble's picture

Protectionism = Avoid Illegal Chinese Competence.

Tue, 06/28/2011 - 08:05 | 1408240 Bohemian Clubber
Bohemian Clubber's picture

First round there were no troubled banks and 6 months later the SHTF, haha second round they take directly 10 banks out of 91 for more credibility. This test must be very technical. Credibility is a bitch


Tue, 06/28/2011 - 08:09 | 1408248 Captain Benny
Captain Benny's picture

The Greeks should just go the full on default route.  Inflation will suck initially, but it'll save them from having their land stolen from under their own feet.

Tue, 06/28/2011 - 08:22 | 1408266 scratch_and_sniff
scratch_and_sniff's picture

I heard the tests themselves were "backfitted", i.e they choose 15 or so banks and designed tests that would fail them banks, and so, no others. I suppose this seems more credible to them than letting an independent test trash them all...


someone is trying their damned hardest to keep the euro up, they must have spunked a few quid by now.

Tue, 06/28/2011 - 08:29 | 1408307 Widowmaker
Widowmaker's picture

So, 5 in 6 banks expected to pass the fascism-first test?

Tue, 06/28/2011 - 08:46 | 1408360 Reptil
Reptil's picture

Ok, WHICH ONES!? WTF is this kind of a "transparent" POS from the EBA?!

Wed, 06/29/2011 - 03:11 | 1410885 Urban Redneck
Urban Redneck's picture

The problem is the depositor insurance in the Eurozone is done at the national level (same as the budget) but the money printing and bailouts can only be done at the ECB/IMF level.   If the failure of an important bank turns into a bank run within a country, then there is a very real chance of a sovereign failure, since Deposit Insurance is only capitalized as a fractional reserve of a fractional reserve.

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