A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region's lenders.
The health checks, led by the European Central Bank, found that banks in countries including Greece, Cyprus, Slovenia and Portugal had fallen short of a minimum capital benchmark at the end of last year and that up to 10 remained in difficulty now, the sources said.
Banks in Spain and France had fared, by and large, better than expected...
http://www.reuters.com/article/2014/10/24/us-eu-banks-idUSKCN0ID1OI20141024
When these banks fail, there's going to be good news and bad news. The good news is that tourism travel is going to be cheaper to the countries where the banks collapse. The bad news is that the bank collapses will affect stock markets globally.
Parts of Europe are going towards Mad Max Beyond Thunderdome status soon.
The health checks, led by the European Central Bank, found that banks in countries including Greece, Cyprus, Slovenia and Portugal had fallen short of a minimum capital benchmark at the end of last year and that up to 10 remained in difficulty now, the sources said.
Banks in Spain and France had fared, by and large, better than expected...
http://www.reuters.com/article/2014/10/24/us-eu-banks-idUSKCN0ID1OI20141024
When these banks fail, there's going to be good news and bad news. The good news is that tourism travel is going to be cheaper to the countries where the banks collapse. The bad news is that the bank collapses will affect stock markets globally.
Parts of Europe are going towards Mad Max Beyond Thunderdome status soon.
