Latest Irrelevant European Stress Test Results Leaked

In all the noise, Europe decided to rerun its stress test and come up with the following completely meaningless "latest and greatest" capital shortfalls:

  • Greece: €30 billion
  • Italy: €15.4 billion
  • Germany:  €13.1 billion
  • Spain: €26.2 billion
  • Portugal: €7 billion
  • France: €7.3 billion
  • Austria: €3.9 billion
  • Belgium: €6.3 billion

Etc. Why meaningless? Simple - one chart says it all...

 

Although we give them this much: the total shortfall sure is bigger than that discovered when Europe ran its first stress test, when the total shortfall was... $ (not €)4.5 billion!!!