Joke Of The Week: Santander (Ticker: STD) Gets Highest Rating In EU Stress Tests

Seriously, does anyone even pretend to believe these Tim Geithner-inspired lies? What can one do but laugh.

From El Pais:

Santander is the highest rated bank that has obtained in the strees test (endurance) that the Committee of European Banking Supervisors [composed of representatives of national central banks, the European Central Bank and the European Commission] made at 25 major European financial institutions.  This figure, according to sources at Moncloa, has come out in the interview that the Prime Minister, José Luis Rodríguez Zapatero, held this afternoon in Brussels with the British prime minister, David Cameron.

Spain has called for disclosure of the results of these tests, which measure the resilience of institutions in extreme conditions, to dispel rumors about the supposed fragility of the Spanish financial system. The proposal, which has the support of the permanent President of the European Council, Belgium's Herman Van Rompuy, is being discussed at the summit today, although not on the agenda.

Next step: complete bailout of the Spanish banking sector.